Drink Co.'s Claims In JPMorgan Suit Time-Barred: 9th Circ.

By Cara Bayles (July 3, 2018, 9:15 PM EDT) -- Hip Hop Beverage Corp. can't revive its suit alleging a JPMorgan Chase Bank manager helped the company's former chief operating officer steal $3 million, the Ninth Circuit said Tuesday, finding that the energy drink maker couldn't clear the time bar on its claims because it hadn't offered proof it learned of the alleged fraud years later.

The three-year statute of limitations for Hip Hop's claim of aiding and abetting a fraudulent breach of fiduciary duty had run out by the time it filed suit in May 2015, because a Chase employee's alleged involvement in the scheme ended in 2011, the appellate...

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