Directors Can't Escape Louisiana Pension Funds' Suit

By Suevon Lee (September 30, 2016, 6:32 PM EDT) -- A Louisiana federal judge on Friday refused to grant investment managers' bid to dismiss a suit by three state pension funds against the managers arising out of the funds' $100 million purchase of an insolvent investment vehicle, rejecting the managers' claims they are not subject to personal jurisdiction.

The ruling comes three years after Peter M. Zayfert, Alphonse Fletcher Jr., Fletcher Asset Management Inc., Denis Kiely and Duhallow Financial Services LLC — among the nearly two dozen parties named in the suit — argued that since they neither reside nor conduct business in Louisiana, they should not be named in the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!