Investment Banks Did Not Aid, Abet Fraud Scheme Against SHIP, Judge Says

Mealey's (April 14, 2020, 12:28 PM EDT) -- NEW YORK — Investment banks did not assist in a scheme to overvalue a reinsurer’s funds tied to Senior Health Insurance Company of Pennsylvania’s (SHIP) investment management agreements (IMAs), a New York federal judge ruled April 10, granting summary judgment to them on SHIP’s aiding and abetting fraud and breach of fiduciary duty claims (In re Platinum-Beechwood Litigation, No. 18-6658, Senior Health Insurance Company of Pennsylvania v. Lincoln International LLC, et al., No. 19-7137, S.D. N.Y., 2020 U.S. Dist. LEXIS 63734)....