2nd Circ. OKs Toss Of Genesco Investor's UBS Suit

Law360, New York (March 4, 2011, 7:43 PM EST) -- A shareholder of footwear retailer Genesco Inc. cannot pursue a putative class action against UBS AG for backing out of a contract to finance Genesco's merger with the Finish Line Inc., the Second Circuit affirmed Friday.

Genesco shareholder Melvin Steinhardt cannot sue UBS for intentional interference with a business relationship under Tennessee law because he failed to allege a prospective or existing relationship between himself and Finish Line, the U.S. Court of Appeals for the Second Circuit affirmed.

“[H]is complaint is devoid of any suggestion of...
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