US-based multi family office GenSpring is facing at least two arbitration cases in the coming months relating to the investment products it sold clients. Late last year a former GenSpring client won a similar case worth $4.3 million (€3.2 million).
At a hearing in Florida on December 28, an arbitrator ruled GenSpring had sold an unnamed wealthy individual risky multi-strategy hedge funds, with the promise they had a "risk profile similar to bonds but with a higher return".
