Fidelity VP Texted That Charitable Arm 'Botched' Share Sales

Law360, San Francisco (October 20, 2020, 10:16 PM EDT) -- Philanthropists who claim Fidelity Investments' charitable arm made false promises to secure their donations of stock called a Fidelity vice president to testify during a bench trial before a California federal judge Tuesday about text messages he sent labeling trades of the shares as "botched" and "amateur hour."

Counsel for philanthropists and former hedge fund managers Emily and Malcolm Fairbairn showed U.S. Magistrate Judge Jacqueline Scott Corley, who is presiding over the Zoom bench trial, text messages and emails from Justin Kunz, a vice president at Fidelity, condemning a Fidelity trader's rapid liquidation of nearly 2 million shares donated by 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!

TRY LAW360 FREE FOR SEVEN DAYS

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?
Beta
Ask a question!