Securities, RICO Claims Nixed In Sunset Media Tower Suit

Law360, New York (November 21, 2011, 12:31 PM EST) -- A California federal judge on Thursday tossed racketeering and securities fraud allegations brought by a group of real estate investors who said they were misled into investing $43 million in Los Angeles' Sunset Media Tower — home to various media and entertainment companies — that never generated any profit.

U.S. District Judge Gary Allen Feess said the plaintiffs' “sparse and conclusory” references to champagne-filled meetings at swanky hotels, at which they were promised sky-high returns, were not specific enough to survive a motion to dismiss by...
To view the full article, register now.

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.