Law360, New York (May 18, 2011, 2:32 PM ET) -- A Georgia federal judge on Tuesday threw out a would-be securities fraud class action against J.P. Turner and Co., ruling the broker-dealer had no duty to verify information from a fossil fuel developer that was later hit with fraud claims.
Plaintiffs Ronald Brown and Vivian Garcia invested in the allegedly bogus securities, losing $25,000 and $50,000, respectively. They filed suit against J.P. Turner in September 2009 seeking class certification and damages against the defendant for failing to conduct due diligence on Provident Royalties LLC.
The U.S....
JP Turner Shakes Investors' Fraud Action
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