Hedge Fund Fights FINRA Bid To Ditch Bogus Payout Suit

Law360, New York (May 30, 2017, 3:39 PM EDT) -- A hedge fund fired back Monday against an attempt by securities regulators to dismiss a putative class action claiming they sent money to the wrong shareholders in a defunct drug company, saying a Delaware judge's approval of the bankruptcy plan does not absolve them of their duties.

B.E. Capital Management Fund LP argued the Financial Industry Regulatory Authority and the Depository Trust Co.'s claim that  Bind Therapeutics Inc.’s bankruptcy plan tied their hands on what investors were eligable for distributions isn’t borne out by their actions,...
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