Lessons to be learned

Earlier this year, the San Diego County Employees Retirement Association (SDCERA) filed suit against Amaranth alleging that the energy hedge fund manager did not adequately disclose risks involved in its investments, and engaged in "excessive and unbridled speculation in natural gas futures"; according to the Wall Street Journal and the New York Times, SDCERA is reportedly seeking $150 million in damages from the fund.

In response, attorneys representing Amaranth officials last month issued a

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