ICYMI: Direct Lending Investments Settles with the SEC
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Brendan Ross on Direct Lending Investments, and the future of small business lending – Bankless Times
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Duff & Phelps Says It s Not Liable For $789M Ponzi Claims
Law360 (May 5, 2021, 4:57 PM EDT) Consultancy Duff & Phelps LLC has moved to toss a fraud suit alleging it helped facilitate Direct Lending Investments LLC s alleged $789 million Ponzi scheme, arguing it can t be held liable for purportedly false valuations because it was contractually required to take financial information from DLI at face value.
Duff & Phelps argued in a Monday motion to dismiss the suit, brought by more than 130 plaintiffs who were limited partner investors in DLI s feeder funds, that the contract between it and DLI specifies Duff & Phelps will not accept responsibility for the accuracy or completeness of information provided by DLI..