Poor Elliot Spitzer, none of the charges he filed against funds when he was the attorney general seem to stick. In another reversal of fortune AllianceBernstein has lost an defamation case against Charles Schaffran, an employee fired in the midst of the scandal.
reports that Schaffran was awarded $2.7 million, on the grounds that Alliance improperly fired him for market-timing anf conflicts of interest between hedge funds and mutual funds. Schaffran claims top management at Alliance permitted the practice as well.
In the end though Spitzer is still the winner in all this, as he already has what he wanted, the govenership.
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