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Sun Capital Dismissed From $550M Fraud Case

Law360 (June 9, 2009, 12:00 AM EDT) -- A federal judge has dismissed relief defendant Sun Capital Inc. from a fraud case in which Florida financier William L. Gunlicks and his company, Founding Partners Capital Management Co., were accused of lying to investors about the safety of certain investments and of failing to disclose risk reports to investors.

In an opinion issued Monday, Judge John E. Steele of the U.S. District Court for the Middle District of Florida agreed with Sun Capital that it had a legitimate ownership interest or legitimate claim to $550...
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