NEW YORK--(BUSINESS WIRE)--Level 3 Capital Funds, LP, has announced a successful final settlement in its lawsuits with TD Bank, ending all significant litigation arising from disgraced Fort Lauderdale, Fla., attorney Scott W. Rothstein’s Ponzi scheme.
“We are pleased to have successfully persevered on our investors’ behalf after nearly four years,” said Ari Glass, principal of the fund, based in midtown Manhattan. “Investors should see a full recovery, including attorney’s fees.”
The private settlement was part of a broader agreement between TD Bank and Platinum Partners Value Arbitrage Fund, L.P., and related hedge-fund entities, including the Level 3 funds. The entities stand to receive up to $70 million from TD Bank and other sources.