Platinum Liquidators Try To Save Fraud Liability Suit
Law360 (May 14, 2019, 4:40 PM EDT) -- Platinum Partners’ liquidators urged a New York federal court Monday to keep alive their lawsuit over the hedge fund’s collapse, claiming a Second Circuit rule referenced in the defendants’ dismissal bid didn't apply to this particular case.
More than a dozen defendants argued last month that the liquidators' claims are barred by 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 Platinum Partners Value Arbitrage Fund LP, the liquidators cannot now attempt to recover funds from outsiders for the alleged...
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!