Ex-Execs Fight Discovery Freeze In $1B Platinum Fraud Suit

Law360, New York (February 6, 2017, 7:06 PM EST) -- The ex-CEO of defunct offshore driller Black Elk and former Platinum Partners executives facing parallel civil and criminal cases over their alleged roles in a $1 billion securities fraud scheme told a New York federal court on Friday to reject the government’s proposed “blanket and indefinite” discovery freeze in the civil case.

Black Elk Energy Offshore Operations LLC’s former CEO Jeffrey Shulse and three former Platinum Partners executives, who were accused of inflating the value of Black Elk investments and duping its bondholders, said the government failed to prove that it would suffer “irreparable prejudice” if discovery continued in the U.S....

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