Bloomberg Law
Jan. 19, 2022, 3:09 PMUpdated: Jan. 19, 2022, 7:28 PM

Jay Alix’s RICO Suit Against McKinsey Revived on Appeal (1)

Alex Wolf
Alex Wolf

Restructuring guru Jay Alix can pursue federal racketeering claims against McKinsey & Co. for allegedly concealing conflicts of interest to secure lucrative corporate bankruptcy work, the Second Circuit ruled.

The decision, issued Wednesday by a three-judge panel, reverses a district court finding that Alix failed to show that he or his former restructuring advisory firm, AlixPartners LLP, were harmed by McKinsey’s alleged anticompetitive conduct.

The U.S. District Court for the Southern District of New York “did not draw all reasonable inferences in Alix’s favor” as it should have done on a motion to dismiss the complaint, the U.S. Court of ...

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