Seward Gets Out Of Suit Over Hedge Fund's Collapse

Law360 (June 4, 2009, 12:00 AM EDT) -- New York state's highest court has affirmed the dismissal of a lawsuit that accused law firm Seward & Kissel LLP of participating in a fraud that led to the collapse of hedge fund Wood River Partners LP.

In an opinion issued Thursday, the New York State Court of Appeals ruled, for one thing, that S&K could not owe the plaintiffs — a group of 16 investors who put money in Wood River between 2003 and 2005 — a fiduciary duty because the parties never had a...
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