Skadden Atty Says Hedge Fund's Malpractice Suit Is Too Old

Law360, New York (November 1, 2013, 5:05 PM EDT) -- A hedge fund waited too long to sue Skadden Arps Slate Meagher & Flom LLP and one of its partners over a $14 million arbitration award that was allegedly their fault, Skadden's attorney told a New York state judge Friday.

Skadden and Allison L. Land, a mergers and acquisitions and securities partner, had allegedly advised the fund, XE Capital Management on buyback agreements with some of its investors in 2008. Those investors were unhappy with the amount of money they received and started an arbitration proceeding...
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