Plainfield scrambles after whistleblower complaint

By Britt Erica Tunick

Tue Aug 24, 2010

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Reportedly accused of overstating the value of its assets, the firm denies the charges.


Max Holmes has once again found himself in the position of having to defend Plainfield Asset Management, this time following news that a whistleblower complaint has been anonymously filed against the firm with the Securities and Exchange Commission.

"We have yet to see the letter, but based upon the description in the press, we can say with absolute certainty that the allegations contained in it are utterly without merit," said Plainfield's general counsel Thomas Fritsch in a letter to investors sent just hours after an article in the New York Post revealed the complaint.

According to the allegations reportedly made within the complaint, Holmes and his...

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