Justices Won't Allow InfoSpace Founder's $247M Suit

Law360, New York (March 9, 2009, 12:00 AM EDT) -- The U.S. Supreme Court will not allow Naveen Jain, the founder of InfoSpace Inc., to pursue a suit against J.P. Morgan Securities Inc., Perkins Coie LLP and Wilson Sonsini Goodrich & Rosati PC claiming the firms bore the responsibility for a $247 million judgment against him in an insider trading case.

The high court denied Jain's petition for a writ of certiorari Monday, refusing to hear an appeal of a January 2008 ruling by the Court of Appeal for the State of Washington, which found that...
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