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.
This item is available in full to subscribers.
We have recently launched a new and improved website. To continue reading, you will need to either log into your subscriber account, or purchase a new subscription.
If you have an active digital subscription, then you already have an account here. Just reset your password, if you've not yet logged in to your account on this new site.
If you are a current print-only subscriber, and want access to our website,click here to view your options for changing you subscription level.
Otherwise, click here to view your options for subscribing.
Please log in to continue |