Realty Finance Co. Wins Dismissal Of Suit Over IPO

Law360, New York (July 30, 2009, 6:51 PM EDT) -- CBRE Realty Finance Inc. has won a bid to dismiss a proposed shareholder class action accusing the company of failing to disclose, on the eve of its initial public offering, that the recipient of a $51 million loan was on the verge of defaulting.

Judge Stefan R. Underhill of the U.S. District Court for the District of Connecticut on Wednesday granted CBRE's motion to dismiss the suit, finding that the lead plaintiffs had failed to show that the alleged omission was material, as the loan to...
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