Thomas Fleming Quoted in NYLJ on Olshan Client’s Victory in the U.S. Court of Appeals for the Second Circuit

New York Law Journal recently reported on a decision by the U.S.Court of Appeals for the Second Circuit vacating a trial court ruling that required Olshan’s hedge fund client to return alleged “short swing” profits.The trial court decision attracted significant interest within the securities bar, with the Managed Fund Association filing an amicus brief seeking reversal. Olshan Litigation partner, Thomas Fleming argued the appeal for the hedge fund and was quoted saying that he was,“pleased that the Second Circuit has clarified the application of Section 16 to hedge funds and their investment advisors.” Mr. Fleming continued, “This should help resolve many pending cases at the district court level.”