The Correction Officers Benevolent Association won victories on consecutive days in legal battles regarding the union’s loss of $19 million in a corrupt scheme under which then-President Norman Seabrook invested $20 million of its money in a hedge fund that subsequently filed for bankruptcy.
On Jan. 17, a three-member panel of the U.S. Court of Appeals for the Second Circuit in Manhattan upheld a lower-court ruling dismissing a lawsuit seeking to hold the remaining members of the board liable for the loss of the money invested with Platinum Partners Value Arbitrage Fund in three installments in 2014.
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