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Locke Lord LLP | USA | 21 Jul 2009

Second Circuit upholds dismissal for advisor who recommended Bayou Group hedge fund

In a highly anticipated decision, the United States Court of Appeals for the Second Circuit affirmed last week that investment advisor Hennessee Group LLC could not be liable on the claims asserted by one of its clients for recommending that the client invest in a hedge fund that turned out to be nothing more than a Ponzi scheme perpetrated by Bayou Group LLC.

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