Wednesday, 1 July 2015
Last updated 6 hours ago
Oct 21 2008 | 10:36am ET
Raoul Felder is not chopped liver, the famed New York divorce lawyer wants AllianceBernstein to know.
Felder has filed a $5 million lawsuit against the money manager, accusing it of misleading him into investing $750,000 in a hedge fund that subsequently lost him $200,000. According to the Duke of Divorce, he wanted a more conservative investment, but that AllianceBernstein pushed him toward the riskier hedge fund that earned it higher fees and commissions.
The firm put its “greed and self-interest” ahead of Felder’s “very simple” instructions, he said.
“It’s like the owner of a restaurant who tell his waiters to push the chopped liver,” Felder told the New York Daily News.
May 27 2015 | 2:15pm ET
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