United States Second Circuit

Dismissal of plaintiffs' claims against defendants alleging aiding and abetting of fraud and of breach of fiduciary duty by a brokerage and financial services firm that entered bankruptcy and whose demise led to the bankruptcy of plaintiff's hedge funds, is affirmed, where: 1) the claims against defendants were properly dismissed for failure of the Amended Complaint to contain sufficient allegations that defendants had actual knowledge of the brokerage firm's fraud and breach of fiduciary duty; and 2) the district court did not abuse its discretion in denying plaintiffs' request for leave to amend.

Appellate Information

• Decided 04/11/2014
• Published 04/11/2014

Judges

• KEARSE

Court

• United States Second Circuit

Counsel