NEW YORK—A U.S. judge said Germany’s Allianz SE must face investor claims it wrongly “abandoned” the investment strategies it promised to use on hedge funds that suffered massive losses as the COVID-19 pandemic shook markets early last year.
In an 81-page decision, U.S. District Judge Katherine Polk Failla in Manhattan said investors could try to show Allianz was negligent and lacked good faith in managing its Structured Alpha funds. She also dismissed some state law-based claims.
