Alliance Capital Survives Challenge To Enron Hoarding

Law360, New York (January 18, 2006, 12:00 AM EST) -- In a defeat for investors trying to jump on the Enron payout bandwagon, a federal appeals court has reaffirmed a lower court’s decision not to hear allegations of securities claims by individual investors against a mutual fund manager that lost hundreds of millions of dollars in its ill-considered investment in the ill-fated company.

Investors in funds managed by Alliance Capital Management, which lost $900 million by waiting to sell its Enron holdings until just two days before the company's bankruptcy, brought a class action suit against...
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