2nd Circ. Affirms Dismissal In Junk Bonds Case

Law360, New York (July 7, 2008, 12:00 AM EDT) -- An appeals court has upheld a lower court’s decision to dismiss claims of securities fraud against officers of Levitz Home Furnishings Inc., Resurgence Asset Management LLC and Deloitte & Touche USA LLP related to the issuance of junk bonds in 2004.

The U.S. Court of Appeals for the Second Circuit held in a June 24 summary order that the U.S. District Court for the Southern District of New York properly dismissed suits by two investment firms, Bay Harbour Management LLC and Xerion Partners LLC, accusing the...
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