Fremont General Shareholder Suit Tossed

Law360, New York (March 31, 2010, 1:14 PM EDT) -- A federal court in California has dismissed a shareholder suit against bankrupt Fremont General Corp. that alleged the company's officers made false and misleading statements and misrepresented the business practices of what had been one of the nation's largest subprime lenders.

Investors led by the New York State Teachers Retirement Systems had put forth virtually no new facts in a third amended complaint in the matter, the U.S. District Court for the Central District of California said in dismissing the suit Monday.

“In the super-charged atmosphere...
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