A New York state appellate court has clamped down on an attempt by a group of hedge funds to get around the U.S. Supreme Court’s ruling in Morrison v. National Australia Bank.
The court’s ruling on Thursday in Viking Global Equities v. Porsche Automobil Holding SE is a big victory for Robert Giuffra Jr. of Sullivan & Cromwell and his client Porsche AG in their efforts to defeat hedge fund short sellers seeking billions of dollars.
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