3rd Circ. Puts Away Garment Industry Antitrust Suit

Law360, New York (October 25, 2011, 4:53 PM EDT) -- The Third Circuit on Monday affirmed the dismissal of a bid-rigging suit Factory 2-U Stores Inc.'s Chapter 7 trustee filed alleging a group of banks that finance transactions between garment retailers and manufacturers forced the company into bankruptcy.

Trustee Jeoffrey L. Burtch had sought to revive his suit against the companies, known as “factors,” after a Delaware federal court dismissed it in May 2009, but in a precedential opinion the appeals court found that the trial court judge was correct in finding that the trustee did...
To view the full article, register now.