Fla. Couple's ARS Suit Against Wachovia Tossed

Law360, New York (April 12, 2010, 7:27 PM EDT) -- A judge has dismissed a Florida couple’s case alleging Wachovia Bank NA improperly misled them into investing millions of dollars in risky auction rate securities.

Judge William P. Dimitrouleas of the U.S. District Court for the Southern District of Florida on April 7 threw out the remaining claims in the case accusing the financial firm of breach of fiduciary duty, negligent misrepresentation and negligence.

Jerome and Jodi Rich, who are real estate developers, sued Wachovia in December 2008 after they were unable to sell some of...
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