NEW YORK--(BUSINESS WIRE)--Platinum Partners Value Arbitrage Fund, L.P. has announced a successful final settlement in its lawsuit with TD Bank, ending all significant litigation stemming from disgraced Fort Lauderdale, Fla. attorney Scott W. Rothstein’s Ponzi scheme.
“Platinum is likely to recover nearly $70 million from TD Bank and other sources, which will recoup investors’ losses and pay for legal fees,” said Uri Landesman, President of the New York-based hedge fund. “This totally vindicates Platinum, as we were victims of Rothstein’s fraud. We are pleased that this settlement has put the Rothstein chapter well and truly behind us. We have always believed that it would be in our investors’ best interests to exhaust all of our legal options in pursuit of financial recovery. This settlement ensures that our investors will be made whole, an outstanding and just outcome for all our stakeholders.”