Teva's $70M ARS Suit V. Deutsche Tossed For Good

Law360, New York (December 15, 2010, 4:20 PM EST) -- A federal judge has closed the book on Teva Pharmaceutical Industries Ltd.'s securities action alleging Deutsche Bank AG misrepresented the nature and risk level of more than $70 million in auction rate securities.

Judge Alvin K. Hellerstein of the U.S. District Court for the Southern District of New York on Tuesday tossed two of Teva's claims as time-barred and the third as moot.

The first count dismissed alleged that the ARS at issue were not exempt from registration with the U.S. Securities and Exchange Commission, and...
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.