11th Circ. Sets Up $58M 'Love Boat' Suit With Court Date

Law360, New York (July 11, 2011, 3:52 PM EDT) -- The Love Boat will have an exciting and new date in court after the Eleventh Circuit ruled Friday that a Spanish company that purchased the allegedly decrepit TV icon can pursue a $57.6 million securities fraud claim against its former owner.

The Eleventh Circuit ruled that because Quail Cruises Ship Management Ltd.'s approximately $15 million purchase of the M/V Pacific, better known as the Love Boat, from Agencia de Viagens CVC Tur Limitada closed in Miami in June 2008, the fraud suit survived a jurisdictional test...
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