Law360, New York (August 28, 2009, 1:48 PM EDT) -- An appeals court has refused to resurrect a False Claims Act suit against companies including Sallie Mae Inc., ruling that the plaintiff's lawyer's conduct — which included consistently missed deadlines and a leak of confidential information to a reporter — was appropriately punished with a dismissal.
The U.S. Court of Appeals for the Seventh Circuit on Thursday upheld the ruling of the U.S. District Court for the Northern District of Illinois.
“The district court certainly was entitled to say, 'enough is enough,'” the opinion said....
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.