Raynor Damages Limited Over Icahn's Federal-Mogul Deal

Law360, New York (September 27, 2013, 2:49 PM ET) -- A New York state judge on Friday blocked most of the damages Texas hedge fund manager Geoffrey Raynor wants activist investor Carl Icahn to fork over from a soured agreement to invest in auto parts manufacturer Federal-Mogul Corp. bonds, and said a jury will decide which damages remain.

Judge Eileen Bransten said that while Icahn and his affiliates have already been found liable for not alerting Raynor's investment funds to some Icahn trades of $108 million worth of Federal-Mogul bonds, it was up to a jury...
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