Top Divorce Lawyer Sues Over Hedge Fund Investment

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.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...