6th Circ. Blazes New Trail On 'Big Boy' Enforcement

Law360, New York (October 31, 2013, 5:45 PM EDT) -- On October 23, the Sixth Circuit affirmed the Southern District of Ohio’s decision granting summary judgment in favor of Credit Suisse Securities (USA) LLC in Pharos Capital Partners LP v. Deloitte & Touche, No. 12-4381 (6th Cir. Oct. 23, 2013).

The appeal concerned claims asserted by plaintiff Pharos Capital Partners LP for fraud, negligent misrepresentation and violations of the Ohio Securities Act, arising from its failed $12 million private equity investment in National Century Financial Enterprises Inc.

As described below, the per curiam ruling by Judges...
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