5th Circ. Nixes $6M Award In Bank One RICO Suit

Law360, New York (June 24, 2009, 12:00 AM EDT) -- A federal appeals court has reversed a $6.4 million damages award granted to a company that was allegedly induced to participate in a fraudulent tax strategy by Bank One Corp., JPMorgan Chase & Co., and a number of executives and attorneys, ruling that a lower court made a mistake in issuing the award.

The U.S. Court of Appeals for the Fifth Circuit on Friday ruled that although defendant William E. Bradley, an attorney involved in the alleged tax scheme, was liable to Ducote Jax Holdings LLC...
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