A broker-dealer and partner fund escaped an investment adviser’s allegations they spread confidential and false information that led investors to withdraw from affiliated mutual funds.
Adviser Leader Capital Corp. didn’t sufficiently plead that disclosing a US Securities and Exchange Commission investigation revealed confidential or non-public information in breach of a contract or an implied duty of good faith and fair dealing by FNEX Capital LLC, Judge
Leader Capital didn’t back up their requested $3.56 million in damages either, the US District Court for the Western District of Washington said.
And its claims against FNEX ...