'Foreign-Cubed' Ruling Applies To RICO Claims: Judge

Law360, New York (August 27, 2010, 2:39 PM EDT) -- Citing the recent U.S. Supreme Court decision that effectively shut the door on so-called foreign-cubed securities cases, a federal judge has determined that a Venezuelan citizen cannot lawfully maintain his Racketeer Influenced and Corrupt Organizations Act suit against six Venezuelan individuals and entities.

Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York granted the six defendants' motion to dismiss Eligio Cedeno's amended complaint with prejudice Tuesday, ruling that the plaintiff's claims exceeded the territorial limits of RICO's reach based...
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