An investor has filed a class-action lawsuit against former U.S. presidential candidate H. Ross Perot’s family office over losses suffered in a hedge fund it says the Perots controlled.

Southern Avenue Partners said it lost all of its investment in Parkcentral Global Hub, a $2.5 billion hedge fund that collapsed last year. According to the lawsuit, filed in Dallas federal court, the hedge fund was controlled by the Perot Family Trust and other Perot-owned and controlled entities.

Southern Avenue charges that Parkcentral Capital Management, which primarily manages the Perot family fortune, exacerbated the fund’s losses through breaches of fiduciary duties and cover-ups.

“Defendants misrepresented to investors that they would follow the Global Fund’s risk controls, and otherwise, prudently manage the fund’s assets,” the lawsuit alleges. “Defendants intentionally and/or recklessly disregarded the Global Fund’s risk controls, breached their fiduciary duties, and misrepresented the risk, liquidity, losses and leverage of the fund to investors. Defendants’ misrepresentations were deliberate and by design with the sole purpose being to attract new investment capital and collect substantial management and incentive fees. As a result of Defendants’ breach of fiduciary duty, the Global Fund imploded. The fund’s net asset value went from over 2.5 billion to less than zero. Plaintiff and the other members of the proposed Class lost 100% of their invested capital.”

Parkcentral is already battling a lawsuit filed by JPMorgan Chase, which accuses the Plano, Texas-based firm of defaulting on a $125 million margin call.