High Court Rejects Vanguard Gambling Investment Suit

Law360, New York (June 14, 2010, 12:44 PM EDT) -- The U.S. Supreme Court has declined to review a shareholder suit against investment manager The Vanguard Group Inc. following two lower court rulings that the plaintiffs lacked standing to pursue federal racketeering allegations stemming from the company's investment in illegal gambling operations that were targeted by the federal government.

The court denied certiorari in a one-sentence order June 14, squashing the putative class action brought by named plaintiffs Deanna McBrearty and Marylynn Hartsel, whose case was first dismissed by the U.S. District Court for the Southern...
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