Fifth Third Wins Privilege Ruling In $500M Contract Suit

Law360, New York (April 8, 2010, 6:40 PM EDT) -- A judge has found that regulatory communications between Fifth Third Bank and the Federal Reserve Bank of Cleveland are off-limits for discovery purposes in a more than $500 million contract suit lodged by Fifth Third against Transamerica Life Insurance Co. and Clark Consulting Inc. over losses in investments routed to a hedge fund.

Magistrate Judge Timothy S. Hogan issued a ruling on Thursday in the U.S. District Court for the Southern District of Ohio finding that there were compelling reasons to deny Transamerica and other defendants’...
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