NY Judge Trims Oppenheimer's Case Against Banks

Law360, New York (September 12, 2011, 8:31 PM EDT) -- A New York state judge on Thursday trimmed some claims from an Oppenheimer Investments AG affiliate's suit alleging Standard Chartered Bank and its Hong Kong affiliate violated two capital raising agreements, but let the suit stand.

Judge Melvin L. Schweitzer granted the defendants' motions to dismiss Oppenheimer Investments Jersey Ltd.'s claims for unjust enrichment and imposition of a constructive trust, leaving the plaintiffs' claims for fraud, tortious interference with contract and breach of implied covenant of good faith in place.

Oppenheimer cannot assert an unjust enrichment...
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