Venable Gets $1.6B Conspiracy Suit Sent To Fed. Court

Law360, New York (April 20, 2011, 8:38 PM EDT) -- Venable LLP and Marshall & Ilsley Trust Co. on Tuesday succeeded in transferring from Maryland state court to federal court a putative class action alleging they owe $1.6 billion for conspiring to force screen printer Transcolor Corp. into bankruptcy.

The complaint, initially filed March 11 by shell company VR Holdings Inc. in Maryland state court, seeks damages on behalf of 2,000 noteholders of Alleco Inc. and Transcolor, who were allegedly harmed when M&I, a bank represented by Venable, wrongly sued Transcolor and its parent company. The...
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