Sky CEO Wants Charges Tossed, Cites F-Cubed Ruling

Law360, New York (December 3, 2010, 5:06 PM EST) -- Citing the U.S. Supreme Court's ruling this summer barring "foreign-cubed" securities cases, the founder of Sky Capital LLC has asked a court to throw out securities fraud charges alleging that he ran a scheme to raise $140 million from investors and leave them holding worthless stock.

In a motion filed Thursday in the U.S. District Court for the Southern District of New York, Ross Mandell maintained that the high court's June decision in Morrison v. National Australia Bank Ltd. meant that the fraud charges he faces...
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