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Rajaratnam Tax Shelter Firm Can't Get Help Paying $5M Award

Law360 - 4/17/2014

By Dan Ivers

Partner Jung H. Park was mentioned in an article for her representation of Weiss & Co. in a lawsuit filed by tax firm Diversified Group Inc. (“Diversified”) which sought to force Weiss & Co., among other defendants, to contribute payment to a $5 million arbitration award against Diversified for selling illegal tax shelters to former hedge fund manager Raj Rajaratnam. New York Supreme Court Judge Eileen Bransten granted summary judgment to Weiss & Co. and the other defendants, holding that the law prevented Diversified from pursuing damages that were exclusively economic in nature. The full text of the article can be viewed here (subscription required).