FGIC Cleared Of Superdome Policy Breach In ARS MDL

Law360, New York (May 13, 2010, 2:27 PM EDT) -- A federal judge has dismissed the Louisiana Stadium and Exposition District's contract and unjust enrichment claims against Financial Guaranty Insurance Co., freeing the insurer from the Superdome owner's $13 million lawsuit in the multidistrict case.

Judge Loretta A. Preska's 41-page opinion, issued Tuesday in the U.S. District Court for the Southern District of New York, dismissed the case with prejudice, saying the plaintiff already had been granted ample opportunity to amend its lawsuit.

The plaintiff, a corporate subdivision of the state of Louisiana, accused the New...
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