Funds Say Mayer Brown Can't Dodge Liability In £74M Fraud

Law360, London (April 5, 2019, 10:34 PM BST) -- A pair of investment funds have said Mayer Brown can't use the argument it didn't represent them to dodge a U.K. lawsuit seeking £74 million ($96 million) for failing to protect investors from a fraud allegedly carried out by the funds' investment managers.

The Axiom Funds said in court documents filed with London’s High Court on Wednesday that Mayer Brown International LLP was instructed to act on their behalf by The Synergy Solution Ltd., or TSSL, an investment manager set up by the funds’ founder Timothy Schools, who is accused of carrying out a widespread fraud.

Mayer Brown has said it was...

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