Nuveen Faces New Antitrust Suit Over Alleged Preston Hollow Boycott
Law360 (July 21, 2020, 5:08 PM EDT) -- Municipal bond venture Preston Hollow Capital LLC continued its pursuit of financial industry giant Nuveen Inc. with a new complaint filed in New York federal court Monday alleging that Nuveen organized an industry-wide boycott that cost Preston Hollow over $100 million.
The suit heavily relies on the findings of a similar 2019 lawsuit and subsequent trial in Delaware Chancery Court, which determined that Nuveen tortiously interfered with Preston Hollow's business relations. Preston Hollow claims the Chancery Court also found "as a matter of fact" that Nuveen orchestrated "an industry-wide boycott" against it.
Preston Hollow presents a direct threat to Nuveen in that...
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