Hedge Funds Can't Split Trial In $15M Reed Smith Deal Suit

Law360, London (May 17, 2019, 7:14 PM BST) -- A London judge on Friday ruled against bifurcating a trial brought by three insolvent hedge funds alleging Reed Smith LLP wrongly forwarded their portion of a $15.7 million settlement in another case to the U.S. to satisfy a separate court order.

High Court Master Karen Shuman said the hedge funds' request to split the trial over the law firm's handling of a settlement from a dispute with Societe Generale SA into two parts — liability and damages — wouldn’t save time and could lead to an increase in costs and possibly delays.

“If there was an appeal, for argument's sake, from...

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