Judge Tosses Art Swindle Insurance Suit

Law360, New York (September 8, 2011, 7:32 PM EDT) -- A New York state judge on Thursday dismissed the fourth lawsuit stemming from a group of art investors seeking coverage from an AXA SA subsidiary for artwork lost in a massive swindle, ruling that he'd already nixed a similar suit.

“I think this complaint is completely defective,” Judge Bernard Fried said in a ruling from the bench in a downtown Manhattan courtroom.

The judge said the investors' complaint, which alleged that AXA told them that they were receiving one kind of insurance when in fact they...
To view the full article, register now.