Wednesday, 20 August 2014
Last updated 8 hours ago
Aug 5 2011 | 12:29pm ET
A hedge fund manager's law firm isn't responsible for the bad decisions he made that led to a $20 million judgment against him in favor of his former employer.
A New York State appeals court in Manhattan rejected Russel Bernard's claim that Proskauer Rose gave him bad advice during his departure from Oaktree Capital Management that ended in a $20 million arbitration award against him. Bernard's lawsuit against the law firm was dismissed by a lower court last year.
Bernard's problems, according to the arbitrator, were entirely of his own making. It ruled that Bernard's misappropriation of real-estate opportunities he worked on at Oaktree for his own planned firm constituted "gross negligence" and "willful misconduct" that he failed to tell Proskauer about.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note