Financial Advisers Seek Judgment On Insurer’s Aiding, Abetting Claims

Mealey's (February 25, 2020, 3:05 PM EST) -- NEW YORK — In a dispute over the investment of $320 million in a failed Ponzi scheme, two financial advisers argue in a Feb. 14 motion to a New York federal court that there is no evidence that they substantially assisted a fraud or breach of fiduciary duty by issuing two valuation reports and, thus, they are entitled to summary judgment on aiding and abetting claims brought by an insurer in rehabilitation (In re Platinum-Beechwood Litigation, No. 18-6658, Senior Health Insurance Company of Pennsylvania v. Lincoln International LLC, et al., No. 19-07137, S.D. N.Y.)....