John Hancock Can't Keep Trading Info From Porsche: 1st Circ.

Law360 (January 15, 2021, 11:19 PM EST) -- The First Circuit affirmed a decision Friday to allow Porsche U.S. discovery of John Hancock Life Insurance affiliates' trading activity and strategies for use in a securities fraud action brought in Germany related to the Volkswagen-led emissions cheating scandal.

In a unanimous, published opinion, penned by U.S. Circuit Judge William J. Kayatta Jr., the panel sided with a Massachusetts federal court that allowed Porsche Automobil Holding SE limited discovery of three John Hancock affiliates — who are not a party in the German suit — while denying John Hancock Worldwide Investors PLC's bid to intervene in the U.S. discovery suit....

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