ING Mismanagement Suit Likely To Survive Dismissal Bid

Law360, New York (May 28, 2013, 7:12 PM EDT) -- A federal judge indicated Tuesday that she would likely not dismiss a new contract lawsuit alleging that an ING Group NV-affiliated asset manager put money into risky securities without permission.

U.S. District Judge Lorna G. Schofield said it appeared there were too many issues of fact to throw out a suit MashreqBank PSC brought against ING Investment Management Co. The United Arab Emirates-based Mashreq alleges in its complaint, filed in April, that ING cost it $61 million by buying up securities without permission.

The case can...
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