Second Circuit Court of Appeals Ruling May Impact Investment Advisors’ Liability in Litigation Involving Failed Investments


On July 14, 2009, the Second Circuit Court of Appeals issued an important decision in South Cherry Street, LLC v. Hennessee Group LLC, 2009 U.S. App. LEXIS 15467 (2d Cir. 2009), that may have broad impact for investment advisors and feeder funds involved in litigation related to Madoff or other Ponzi schemes, failed hedge funds, and the like.

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Published In: Civil Procedure Updates, General Business Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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