In the News May 8, 2008

Patrick DiCarlo Quoted in Bloomberg.com Article

Patrick DiCarlo was quoted in a recent Bloomberg.com article which focused on a money management company being sued for damages over losses from subprime-mortgage investments made for pension funds. The company is being sued under the federal Employment Retirement Income Security Act (ERISA), with the plaintiffs claiming that the company breached its fiduciary duty by investing pensioners’ money in high-risk securities instead of the conservative funds promised. DiCarlo, who practices in that area, pointed out that, “in your classic securities-fraud context, you have to prove a fraudulent intent,” but, in such a case as this, “all you have to prove is that the investment is imprudent.”
Media Contact
Nicholas Clarke
Senior Communications Manager
Phone: 212.210.1222
This website uses cookies to improve functionality and performance. By continuing to browse this site, you are consenting to the use of cookies on this website. For details, see our Privacy Statement