Hedge Fund Receiver Drops Appeal of Order Dismissing Claims Against Holding Co.
February 1, 2021
NEW YORK — The receiver of the Platinum Partners hedge fund has dropped her appeal of a New York federal judge’s dismissal of aiding and abetting claims PB Investment Holdings Inc. in a fraud case involving an offshore reinsurance company and a Pennsylvania insurer.
According to a recent filing in the 2nd Circuit U.S. Court of Appeals, the receiver will not challenge an April ruling from the U.S. District Court for the Southern District of New York that the evidence does not show that PB Investment “substantially assisted” the alleged breach of fiduciary and fraud.
In the early 2000s, Mark …