IKB Loses Bid To Escape Rhinebridge Suits

Law360, New York (May 5, 2010, 4:00 PM EDT) -- A federal judge has refused to dismiss IKB Deutsche Industriebank AG from twin proposed class actions over the collapse of a structured investment vehicle called Rhinebridge crafted by the German bank.

In a ruling Tuesday, Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York refused IKB's motion to dismiss, rejecting arguments that the court lacks jurisdiction over the German company.

The proposed class actions were filed by two institutional investors — King County, Wash., and the Iowa Student Loan...
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