A Pennsylvania financial analyst can proceed with claims against short-seller Muddy Waters Research and its founder for allegedly freezing him out of his share of a $14 million whistleblower award, a federal court ruled.
Kevin Barnes adequately alleged that he formed a partnership to help Muddy Waters and Carson Block investigate potential fraud at a Chinese advertising company, Focus Media Holding Co., Chief Judge Laura Taylor Swain said Monday for the US District Court for the Southern District of New York. Barnes’ partnership allegations, if proven, would require that “each party comply with a fiduciary duty of loyalty,” Swain ...
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