Football League seeks dismissal of Hedge Fund suit

The NFL and its union say a lawsuit filed by six current and former players seeking to recoup $20 million they lost in an alleged fraud scheme should be dismissed, arguing in part that league players are solely responsible for their own finances.

The league and players association filed papers Friday in federal court in Atlanta seeking to dismiss the lawsuit, which was initially filed in June.

Lawyers for the NFL wrote that the players' collective bargaining agreement "established that players shall bear all responsibility for their personal finances." They also said that the agreement requires arbitration, not litigation, of disputes such as the ones raised in the lawsuit.

"That agreement provides an exclusive remedy - arbitration - for any and all claims, such as those presented here, that involve interpretation or application of any element of the agreement," league attorneys Gregg Levy and Earl Gunn wrote.

The papers filed by the players association seek to dismiss the lawsuit on similar grounds.
The lawsuit claims the union endorsed the services of an investment firm even though its manager had liens against him.

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