MGA's $429M Fraud Suit Against Deutsche Bank, Others Paused
By Zach Winnick
Law360, Los Angeles (February 27, 2012, 8:16 PM ET) -- A California federal judge Monday put the brakes on MGA Entertainment Inc.’s $429 million lawsuit alleging that fraud by Deutsche Bank AG and others caused its failed investment in French toymaker Smoby SA, saying the case should be stayed while French litigation moves ahead.
“[This case] involves a French toy manufacturer. It involves debt that was incurred in France. It’s a situation where [Smoby] was in court proceedings prior to the purchase, a situation where the purchase by MGA was only pursuant to the French court’s...