NEWS
Paul Hastings Secures Dismissal on Behalf of Panoptic Fund Administration
May 27, 2026
Paul Hastings LLP secured a victory for Panoptic Fund Administration Inc., a premier fund administration firm, in Los Angeles Superior Court, when the Honorable Susan Bryant-Deason sustained Panoptic’s demurrer without leave to amend in Hoversten v. Panoptic Fund Administration, Inc., et al.
The complaint alleged that Panoptic misled the plaintiff and breached fiduciary duty by preventing him from withdrawing an investment from a fund to which Panoptic provided services.
The court sustained the demurrer to the complaint on statute of limitations grounds without leave to amend, finding that the complaint suggested that the plaintiff was aware of the purported fraud long before he filed suit and had not adequately pleaded facts to support application of the delayed discovery rule.
The team was led by partner Scott Carlton and included partner Art Zwickel, of counsel Brian Kaewert and associate Matt Twargoski.
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