Teva's $70M ARS Suit Against Deutsche Tossed

Law360, New York (March 25, 2010, 11:38 AM EDT) -- A federal judge has thrown out Teva Pharmaceutical Industries Ltd.'s securities action alleging Deutsche Bank AG misrepresented the nature and risk level of more than $70 million in auction rate securities.

Judge Alvin K. Hellerstein granted Deutsche's motion to dismiss, allowing leave for Teva to replead certain claims, according to the ruling on Wednesday in the U.S. District Court for the Southern District of New York. He cited only “reasons stated on the record” for his ruling.

Judge Hellerstein left room to replead claims for violations...
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