Fraud Claims Nixed In Fifth Third Shareholder Suit

Law360, New York (August 11, 2010, 6:21 PM EDT) -- A federal judge has dismissed shareholder allegations that Fifth Third Bancorp and a slew of other defendants lied to investors and fraudulently concealed its exposure to the credit crisis, while allowing some claims that the bank made misleading statements about public offerings.

Senior Judge Sandra S. Beckwith of the U.S. District Court for the Southern District of Ohio on Tuesday partially granted motions to dismiss the putative shareholder class action over four classes of Fifth Third's securities offerings.

The judge axed all the Section 10(b) claims...
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