Deutsche Bank Dodges PE Firm's Suit Over $1B CLO

Law360, New York (June 7, 2013, 6:31 PM EDT) -- A federal judge on Thursday ruled that private equity firm Arco Capital Corp. waited too long to sue Deutsche Bank AG over losses incurred through a $1 billion collateralized loan obligation.

Judge Robert W. Sweet of federal district court in Manhattan found that Arco's suit over the CLO issued by Deutsche Bank came after the five-year statute of limitations provided under section 10(b) of the 1933 Securities Act had expired.

The firm also failed to sufficiently argue that it should be eligible for a two-year extension...
To view the full article, register now.