Securities Fraud Complaint Against Paramount Tossed

Law360, New York (April 5, 2010, 4:47 PM EDT) -- A federal judge has thrown out a securities fraud complaint brought against Viacom Inc. unit Paramount Pictures Corp. by Allianz Risk Transfer Inc. and others who invested a combined $40 million to help fund a slate of Paramount movies based on an allegedly misleading private placement memorandum.

Judge Thomas P. Griesa of the U.S. District Court for the Southern District of New York granted Paramount's motion to dismiss for failure to state a claim on Wednesday, but gave the plaintiffs leave to replead within 60 days....
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