2nd Circ. Affirms Dismissal Of Suit Over CBRE IPO

Law360, New York (July 26, 2011, 4:01 PM EDT) -- The Second Circuit on Tuesday affirmed the dismissal of a shareholder class action accusing CBRE Realty Finance Inc. of failing to disclose, on the eve of its initial public offering, that the recipient of a $51.5 million loan was on the verge of defaulting.

Agreeing with the lower court that nixed the case in 2009, a three-judge panel for the appeals court found that the lead plaintiffs had failed to show the alleged omission was material. However, unlike the district court, the Second Circuit did not...
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.