Barring RICO Claims Based On Alleged Securities Fraud
July 28, 2011, 2:52 PM EDT
Law360, New York (July 28, 2011, 2:52 PM EDT) -- In MLSMK Investment Co. v. JP Morgan Chase & Co., No. 10-3040-cv, 2011 (2d Cir. July 7, 2011), the United States Court of Appeals for the Second Circuit affirmed the dismissal of claims brought under the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. §§ 1962 and 1964, seeking to hold defendants liable for allegedly conspiring with Bernard L. Madoff to perpetrate his now-infamous Ponzi scheme.
The court held that plaintiff’s RICO claims were precluded by Section 107 of the Private Securities Litigation Reform Act of...