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Platinum Partners’ Lesson on the Dangers of Betting on Lawsuits

The New York hedge fund firm recovered $70 million in losses from a fraudulent scheme connected to the fast-growing business of funding legal proceedings. Now its managers are telling others to tread with caution in this niche market.

       Platinum Partners president Uri LandesmanIt’s a lawsuit wrapped in a lawsuit, a twist on a strategy that has become fairly widespread among hedge funds.  The world is so rife with litigation that many hedge funds have made money buying legal claims or funding legal proceedings in return for collecting the settlement

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