STORY FROM: Reinsurance & Arbitration
Financial Advisors Move for Summary Judgment on Aiding, Abetting Claims
February 27, 2020
NEW YORK — Two financial advisors have moved for summary judgment on claims accusing them of providing Senior Health Insurance Company of Pennsylvania with false valuation reports, causing it to sink $320 million in the troubled Platinum Partners hedge fund.
In a Feb. 14 motion filed before Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York, Lincoln International LLC and Lincoln Partners Advisors LLC argue that they did not overvalue any of the investments and did not induce SHIP to invest in Platinum Partners.
SHIP stopped writing new insurance policies in 2003, and ...
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