CHICAGO — A manager of a company is suing Sterling Energy Sector Fund LP, employees Mark J. Paulino, David Samuel Oslinger, Oliver James Sterling, Eric Carnegey and Garwood Securities LLC, Stonegate Administration Fund LLC and Stonegate Global Fund Services LLC for allegedly misrepresenting the performance of an investment fund.
Joseph F. Langston, manager of The Langston Family Limited Partnership, filed a lawsuit on March 2 in the U.S. District Court for the Northern District of Illinois alleging the defendants deceived potential investors by intentionally providing incorrect representations of its investment funds.
According to the complaint, the plaintiff alleges he sustained financial damages after he invested $200,000 in one of the defendants' funds. The plaintiff alleges the defendants told him the value of his investment had increased 20 percent even as the fund lost at least 50 percent of its value.
The plaintiff seeks judgment against the defendants in the amount of $200,000 plus court costs, return of allegedly ill-gotten profits, interest, court costs and any further relief the court grants. He is represented by Ana McNamara of McNamara Law Offices P.C. in Chicago.
U.S. District Court for the Northern District of Illinois case number 1:17-cv-01687