Investor Can't Duck Fraud Claims In $35M Arena Bond Row

Law360, New York (June 24, 2013, 5:00 PM EDT) -- An Arizona federal judge on Friday ruled that a shareholder in an arena project must face securities fraud claims lodged by Allstate Life Insurance Co. and Wells Fargo Bank NA over losses from a $35 million bond offering, tossing out the shareholder's bid for an interlocutory appeal.

Judge G. Murray Snow denied the bid made by W. James Treliving, a director of Global Entertainment Corp., after shooting down his arguments that the court erred in requiring an "adequate supervision" element to his good-faith defense. Treliving is...
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