Platinum Affiliates Say ‘Wagoner’ Kills Liquidators' Claims

Law360 (April 23, 2019, 7:47 PM EDT) -- More than a dozen sets of defendants in a suit over the collapse of Platinum Partners say a Second Circuit rule prevents the hedge fund’s liquidators from suing them for Platinum’s own misconduct.

While far from the only argument posed in a cavalcade of dismissal motions and counterclaims filed Monday, several individuals and firms affiliated with the hedge fund pointed to the 1991 ruling in Shearson Lehman Hutton Inc. v. Wagoner, which established that a plaintiff lacks standing to sue third parties over misconduct for which it shares equal blame.

As successors-in-interest for the Platinum Partners Value Arbitrage Fund LP, the...

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Attached Documents



Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only


New York Southern

Nature of Suit

Racketeer/Corrupt Organization


Subscribers Only

Date Filed

November 21, 2018

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