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2nd Circ. Judge Has Blunt Take On La Quinta Stock-Drop Case

Law360, New York (August 16, 2018, 6:39 PM EDT) -- The Second Circuit didn’t look keen Thursday to revive claims that La Quinta Holdings Inc. and a private equity backer duped investors by failing to adequately disclose the risk of oil and gas prices crashing, with Judge Gerard E. Lynch saying “any idiot” knows a hotel chain with a heavy presence in Texas is impacted by an energy-sector slump.

The often-outspoken Judge Lynch gave the blunt assessment during oral arguments as plaintiffs, including a Detroit-based police and fire pension fund, sought a reversal of Manhattan U.S....
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Case Information

Case Title

Beisel v. La Quinta Holdings Inc.


Case Number

17-2941

Court

Appellate - 2nd Circuit

Nature of Suit

3850 STATUTES-Secur Comm Exchange

Date Filed

September 21, 2017

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