Longfin Investors Want Redo Of Network 1 Claims Decision
Law360 (December 3, 2019, 4:23 PM EST) -- Longfin Corp. investors told a New York federal court Monday that it must rethink a November ruling refusing their bid to revise claims against broker-dealer Network 1 over its cover-up of Longfin's alleged fraud because to deny them that opportunity would constitute "manifest injustice."
Last month, U.S. District Judge Denise Cote rejected a motion by Longfin shareholders to amend their suit, the latest version of which was dismissed in July, because they failed to take advantage of multiple previous opportunities to fix deficient arguments, she said.
But the investors contended in a reconsideration motion Monday that Judge Cote's decision was "premised...
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