Judge Allows Law Firm To Exit $23M Cobalt Fraud Suit

Law360, New York (March 09, 2012, 1:38 PM ET) -- A New York federal judge on Wednesday dismissed one of several law firms that allegedly aided a $23 million criminal securities scam at Cobalt Capital Funding, ruling that in the wake of a recent appeals court decision the receiver had no standing to sue the firm.

U.S. District Judge Kimba Wood ruled that a recent appeals court decision in litigation over the collapse of Refco Inc. undermined the court's 2009 ruling that let the receiver for the Cobalt entities go after Certilman Balin Adler & Hyman...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Cobalt Multifamily Investors I, LLC et al v. Shapiro et al


Case Number

1:06-cv-06468

Court

New York Southern

Nature of Suit

Contract: Other

Judge

Kimba M. Wood

Date Filed

August 25, 2006

Law Firms

Companies