The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that.
By: Jeffrey M. Haber This Blog has previously written about the benefits of forming a corporation or a limited liability corporation and the perils of ignoring the corporate formalities.
A Manhattan federal jury said Tuesday that Platinum Partners co-founder David Bodner must pay the defunct hedge fund's bankruptcy liquidators $8.2 million for allowing Platinum to overvalue assets in order to collect excessive fees.
Platinum Partners co-founder David Bodner should pay nearly $50 million for allegedly allowing the now-defunct hedge fund to overvalue assets, counsel for Platinum's bankruptcy liquidators told a Manhattan federal jury on the final day of a two-week trial Thursday.
Platinum Partners co-founder David Bodner told a Manhattan federal jury on Monday that he had only a minimal role in the now-defunct hedge fund's operations, testifying that he was told he "looked too Jewish" to be seen by investors.