Securities Law Blocks Mare Breeding Suit: Bank

Law360, New York (July 14, 2011, 7:16 PM EDT) -- Wilmington Trust FSB argued Wednesday that federal securities law bars a $12 million fraud suit in the multidistrict litigation over an alleged a horse-breeding scam run by ClassicStar LLC owner GeoStar Corp.

In a motion to dismiss, Wilmington Trust said Sea Song Farms LLC and its owners, Lewis and Linda Teffeau, improperly brought their amended complaint under the Racketeer Influence and Corrupt Organizations Act when in fact the suit was a fight over a securities transaction. Given that, the complaint is barred by the Private Securities...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

In Re: ClassicStar Mare Lease Litigation MDL No. 1877


Case Number

5:07-cv-00353

Court

Kentucky Eastern

Nature of Suit

Racketeer/Corrupt Organization

Judge

Joseph M. Hood

Date Filed

October 19, 2007

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.