From New York to London to Sydney, Australia, hedge funds are unhappy with new short-selling restrictions. But one group of hedge fund managers doesn’t plan to take the new measures lying down.

A group of some of the world’s biggest hedge funds may sue Britain’s Financial Services Authority, which on Thursday became the first regulator to bar short-selling of some securities, in an effort to recoup millions of pounds in losses, The Telegraph reports. The unidentified market players are accusing the FSA of “wide-spread capital destruction” in pursuance of a cheap political stunt.

According to the Telegraph, some 35% of European hedge funds are being forced to scramble to survive in the wake of the FSA’s new short-selling restrictions. The British regulator’s move was quickly followed by similar moves in the United States and Australia.