Preston Hollow Gets No Relief For Nuveen's 'Lies'

Law360 (April 9, 2020, 10:32 PM EDT) -- A Delaware vice chancellor on Thursday ruled that financial industry giant Nuveen LLC used "threats and lies" to harm competitor Preston Hollow Capital LLC, but he granted no relief for the bad acts, saying the Chancery Court cannot provide the equitable relief Preston Hollow sought.

In a 59-page memorandum opinion, Vice Chancellor Sam Glasscock III rejected Nuveen's contention that it didn't make false representations about Preston Hollow and cast doubt on Nuveen witnesses' testimony during trial last year claiming that statements made about Preston Hollow simply amounted to competitive posturing.

"Their testimony was generally that institutional investors and their bankers speak...

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