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...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related

Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

New York Southern

Nature of Suit

Racketeer/Corrupt Organization

Judge

Subscribers Only

Date Filed

November 21, 2018

Law Firms

Companies