Icahn Can't Ditch Suits Over Federal-Mogul Investment Pacts

Law360, New York (October 16, 2012, 8:10 PM EDT) -- A New York state appeals court on Tuesday affirmed a ruling against activist investor Carl Icahn in two cases over a purportedly breached agreement to invest in auto parts manufacturer Federal-Mogul Corp. with Texas hedge fund manager Geoffrey Raynor.

A five-judge panel of the Appellate Division of New York Supreme Court ruled that a lower court properly refused to dismiss allegations that Icahn breached a 2001 investment agreement with Raynor by transferring shares of Federal-Mogul to an Icahn affiliate without disclosing the interest of Raynor's company...
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