Linens 'N Things Noteholder Loss Suit Booted

Law360, New York (August 13, 2010, 4:05 PM EDT) -- A federal judge has thrown out an investment fund's lawsuit claiming that mismanagement of home furnishings retailer Linens 'N Things led to its bankruptcy filing and steep losses for noteholders.

Judge Jose L. Linares of the U.S. District Court for the District of New Jersey on Thursday dismissed the complaint in its entirety but gave plaintiff Levine Leichtman Capital Partners Deep Value Fund LP 20 days to file an amended one.

The plaintiff's claims are not time-barred but are not sufficiently pled either, Judge Linares said....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.