Revived EF Hutton Breaks Up as Partners Resolve Legal Fight

EF Hutton, the storied Wall Street name that was reborn as a leading SPAC investment bank, is breaking up after the two partners that revived the brand agreed to drop lawsuits against each other and go their own ways.

The firm said in a statement issued Sunday that Joseph Rallo and David Boral agreed to take their businesses “in different directions.” Rallo will keep the EF Hutton name and trademark, while Boral will retain control of the broker-dealer that operated under the brand, according to the statement. A spokesman for Rallo confirmed the agreement on Monday.

EF Hutton sued ...