Judge OKs Suit V. Law Firm Over Hedge Fund Fraud

Law360, New York (April 2, 2008, 12:00 AM EDT) -- A federal judge has ruled that federal law does not preempt shareholder cases brought under Oregon securities law, allowing a federal fraud suit seeking to hold law firm Seward & Kissel LLP liable for alleged misrepresentations made by a hedge fund to continue.

However, U.S. District Judge Harold Baer of the Southern District of New York did toss investor Howard Houston's claims that Seward & Kissel violated registration requirements under Oregon's Blue Sky laws. Houston accused Seward & Kissel of aiding and abetting in misrepresentations and...
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