High Court Won't Hear ACCI Gambling Investment Appeal

Law360, New York (December 12, 2011, 3:30 PM EST) -- The U.S. Supreme Court refused Monday to hear an American Century Cos. Inc. shareholder's challenge of the dismissal of her class action alleging the mutual fund manager is liable for investments in an online gambling operation whose stock plummeted after a government crackdown.

The high court denied plaintiff Laura Seidl's petition for certiorari, which she filed Sept. 14 following a Second Circuit ruling in June that upheld the dismissal for lack of proximate causation of her class action and derivative claims seeking to recover money lost...
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