Southern District Bankruptcy Judge Robert Gerber has dismissed a lawsuit brought by liquidators of two investment funds against DLA Piper for aiding and abetting fraud, finding the liquidators failed to sufficiently allege the law firm had knowledge of wrongful conduct.
In December 2013, the liquidators sued DLA Piper, initially in New York state court, claiming the firm helped the funds’ investment manager misappropriate millions of dollars. The funds, called SCIF Funds, have been in liquidation in the Cayman Islands.
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