Four hedge funds appealed on Tuesday a ruling in the Washington Mutual Inc. bankruptcy that found viable claims they had engaged in insider trading, an opinion one fund called a “gross injustice.” …. “The opinion rewrote the rules for these cases retroactively — invoking a series of new legal standards that would radically remake federal securities and bankruptcy law,” said Aurelius Capital Management LP, one of the four hedge funds, in court papers.
‘Enforcement 40’ for 2020
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