2nd Circ. Won't Revive Wachovia RICO Case

Law360, New York (October 5, 2009, 4:24 PM EDT) -- A federal appeals court has upheld the dismissal of a lawsuit brought by a group of hedge funds that alleged that Wachovia Corp. knew about and worsened the fraud at bankrupt beverage maker Le-Nature's Inc., saying the Racketeer Influenced and Corrupt Organization Act claims are not ripe.

In an order Friday a three-judge panel of the U.S. Court of Appeals for the Second Circuit agreed with a lower court's decision to dismiss the suit against the bank and auditor BDO Seidman LLP. Funds run by Harbinger...
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