Duff & Phelps Says It's Not Liable For $789M Ponzi Claims

By Sarah Jarvis (May 5, 2021, 4:57 PM EDT) -- Consultancy Duff & Phelps LLC has moved to toss a fraud suit alleging it helped facilitate Direct Lending Investments LLC's alleged $789 million Ponzi scheme, arguing it can't be held liable for purportedly false valuations because it was contractually required to take financial information from DLI at face value.

Duff & Phelps argued in a Monday motion to dismiss the suit, brought by more than 130 plaintiffs who were limited partner investors in DLI's feeder funds, that the contract between it and DLI specifies Duff & Phelps "will not accept responsibility for the accuracy or completeness" of information provided by DLI....

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