Alleged Guggenheim Faker Can't Nix $1M Fine, 2nd Circ. Says

Law360, New York (July 15, 2013, 4:05 PM EDT) -- The Second Circuit on Monday affirmed a $1.25 million default judgment for Guggenheim Partners LLC against a man who allegedly used the famous surname to peddle millions of dollars in sham investments.

The appeals court rejected David Birnbaum's claim, among others, that the district court didn't adequately explain that he would be hit with the judgment and huge fine based on his conduct in the trademark lawsuit filed against him by the financial services company.

Though the Second Circuit agreed that the court never explicitly informed...
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