Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Liquidators of two investment funds are suing DLA Piper, claiming the firm helped the funds’ investment manager misappropriate millions of dollars. The funds, called SCIF Funds, are in liquidation in the Cayman Islands. ICP Asset Management, founded by Thomas Priore, was investment manager to the funds and a client of DLA, according to ICP Strategic Credit Income v. DLA Piper, 654216-2013, which seeks $80 million in damages. Liquidators claim DLA helped ICP and Priore to misappropriate more than $36 million from funds to make payments owed by Triaxx Funding, another investment vehicle ICP managed. Triaxx was a collateralized debt obligation that bought and held residential mortgage-backed securities.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.