Law360, New York (July 12, 2012, 7:17 PM ET) -- A New Jersey federal judge on Wednesday denied Citigroup Global Markets Inc.'s bid to shake claims brought by a mutual fund that the financial giant withheld information that would have discouraged its investment in a doomed Las Vegas monorail.
U.S. District Judge Claire C. Cecchi refused to dismiss Lord Abbett Municipal Income Fund Inc.'s suit, ruling that the plaintiff had adequately pled a cause for negligent misrepresentation as well as claims of common law fraud and violations of the New Jersey Securities Act.
According to the...
Citi Can't Ax Suit Over Bankrupt Vegas Monorail Bonds
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