Tort Claims Allowed V. Dreyfus In $200M Fraud Case

By James Armstrong

Law360, New York (January 25, 2010, 7:22 PM ET) -- A federal appeals court has partially reversed a ruling that blocked five state insurance commissioners from pursuing claims against Dreyfus Service Corp. for its role in convicted felon Martin Frankel's $200 million fraud scheme.

On Monday, the U.S. Court of Appeals for the Fifth Circuit remanded for further proceedings tort claims against Dreyfus subaccounts related to the fraud, but affirmed a district court's dismissal of claims related to the Racketeer Influenced and Corrupt Organizations Act.

Insurance commissioners from Mississippi, Tennessee, Oklahoma, Arkansas and Missouri brought the...
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