A New York state judge has granted Akin Gump Strauss Hauer & Feld’s motion to dismiss several claims filed against it by a former hedge fund client, but has permitted a fraud claim to go forward.

In February, James McBride and Kevin Larson, the principals behind the Veras series of funds, sued Akin Gump for $4.4 billion, claiming the firm advised them that the trading of mutual fund shares after the market close was a legal practice.

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