Roth Dodges Some Claims In Mortgage Stock Fraud MDL

Law360, New York (January 29, 2010, 12:52 PM EST) -- A federal judge has let securities broker-dealer Roth Capital off the hook for some claims in multidistrict litigation over an alleged securities fraud connected with stocks and debt issued by now-defunct Metropolitan Mortgage & Securities Co. Inc. and its affiliate Summit Securities Inc.

Judge Fred Van Sickle of the U.S. District Court for the Eastern District of Washington granted most of Roth's motion for summary judgment Thursday, though Roth still could be liable for failing to examine Metropolitan registration statements as carefully as it should have....
To view the full article, register now.