Weiss Multi-Strategy Advisers' Bonuses Spark Fight With Jefferies [BNN Bloomberg (Canada)]
Jefferies Financial Group Inc. (JEF)
Last jefferies financial group inc. earnings: 10/25 04:42 pm
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Source: BNN Bloomberg
WMS sued Jefferies and its investment management affiliate, Leucadia Asset Management, on Monday, alleging Jefferies used the threat of its own lawsuit over the bonuses to impose a forbearance agreement that boosted Jefferies debt over obligations owed to other creditors. WMS, which also filed Chapter 11 bankruptcy on Monday, said it is seeking to avoid the amended forbearance agreement. The lawsuit also seeks to use Chapter 11 to recover $20 million transferred to Jefferies over the past two years, claiming the payments either favored Jefferies over other creditors or were obtained unfairly under the threat of litigation over the bonuses. Jefferies has denied the allegations and said WMS is acting in bad faith. Jefferies is a major creditor of WMS and is owed unpaid notes and obligations under a strategic partnership that dates back to 2018. WMS Chief Operating Officer Pierce Archer said in a sworn statement that the firm and its associates owe $43 million in outstanding notes a
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JEF
News
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- Bill Hwang's First Week on Trial Over Archegos [BNN Bloomberg (Canada)]BNN Bloomberg
JEF
Earnings
- 3/27/24 - Miss
JEF
Sec Filings
- 5/16/24 - Form 424B2
- 5/16/24 - Form 424B2
- 5/14/24 - Form 4
- JEF's page on the SEC website