Hedge Fund Sues Dechert For $50M Over Dreier Deal

Law360, New York (December 21, 2009, 6:49 PM EST) -- Fortress Credit Corp. fired off a lawsuit Monday accusing Dechert LLP of providing a false legal opinion that caused the hedge fund to lose more than $50 million in disgraced attorney Marc Dreier's Ponzi scheme.

The hedge fund filed a complaint in the Supreme Court of the State of New York, County of New York, alleging that Dechert engaged in fraud, malpractice and negligent misrepresentation for presenting itself as “special corporate counsel” to Solow Realty while never directly communicating with its supposed client and for providing...
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