Barnes & Thornburg Ducks $50M Derivatives Malpractice Suit

Law360, Los Angeles (July 22, 2013, 8:21 PM EDT) -- An Illinois federal judge tossed a $50 million derivatives lawsuit Monday alleging that registered investment adviser the Nutmeg Group LLC and Barnes & Thornburg LLP breached their fiduciary duties by failing to provide quarterly financial statements to 90 investors, finding the claims were time-barred.

The limited partners who invested with Nutmeg in a collection of investment pools argued that Nutmeg, its receiver and Barnes — which retained the receiver to perform legal services — broke the Investment Advisors Act and other federal securities laws. Nutmeg countered...
To view the full article, register now.




Case Information

Case Title

Alonso v. Weiss et al

Case Number



Illinois Northern

Nature of Suit



Honorable Joan H. Lefkow

Date Filed

September 14, 2012

Law Firms

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.