U.S. Court of Appeals for the Eighth Circuit
U.S. Chamber files coalition amicus brief urging Eighth Circuit to reverse judgment against a bank held liable for aiding and abetting a breach of fiduciary duty in connection with a corporate customer’s Ponzi scheme
October 13, 2023
The coalition brief argued that the district court erred by applying the wrong scienter standard and by disallowing the in pari delicto defense.
H. Rodgin Cohen, William B. Monahan, Matthew A. Schwartz, Rachel Rolnick, and Max J. Kober of Sullivan & Cromwell LLP and the U.S. Chamber’s Litigation Center served as co-counsel for the U.S. Chamber.