Tuesday, August 07, 2012
Investor Claims. The Second Circuit has held that an investor may assert a claim against a portfolio manager even though the investor was not a party to the contract spelling out the manager's duties. The Court held that the relationship between the investor and the manager was sufficiently close to impose a duty on the manager, allowing the investor to sue for gross negligence.
The decision in Bayereische Landesban v. Aladin Capital Mangement can be found here.
The decision in Bayereische Landesban v. Aladin Capital Mangement can be found here.
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