Judge dismisses turnaround guru's racketeering case vs McKinsey [Reuters]
FTI Consulting, Inc. (FCN)
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Source: Reuters
Judge dismisses turnaround guru's racketeering case vs McKinsey - Reuters 3 Min Read WILMINGTON, Del (Reuters) - A federal judge dismissed claims on Monday by turnaround pioneer Jay Alix that McKinsey & Co violated racketeering laws when the consulting firm expanded into advising bankrupt U.S. companies. Alix accused the consulting firm, known for its secrecy, of improperly concealing potential conflicts when it sought bankruptcy court approval to advise companies in Chapter 11. The decision is part of a larger battle between McKinsey and Alix that has been waged since at least 2016 across multiple courts. Alix has said he is fighting for the integrity of the bankruptcy system, while McKinsey has said Alix is using the courts to try to stifle competition. Alix said that McKinsey’s bankruptcy work was a “criminal enterprise” that generated an unlawful profit of at least $101 million, at the expense of AlixPartners, the firm Alix founded. In Monday’s ruling, U.S. Judge Jesse Furman of M
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