Law Firm Sues Hedge Fund Platinum

Mar 22 2012 | 2:38am ET

Platinum Partners recently fired the law firm defending it against allegations that it aided a Ponzi scheme. But it still owes Shutts & Bowen almost half-a-million dollars, the firm said in a lawsuit filed this week.

Miami-based Shutts alleges that Platinum, founder Mark Nordlicht and several business associates have refused to pay some $443,000 in legal fees. Shutts had been handling Nordlicht's defense in a pair of lawsuits filed by the trustee in the Scott Rothstein fraud case; the firm was replaced by Bilzin Sumberg Baena Price & Axelrod due to concerns Platinum had about Shutts' work.

Shutts filed the case in Miami federal court. Platinum and Nordlicht have yet to respond.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note