Defendant Must Stay In CDO Fraud Suit Against ICP: Judge

Law360, New York (December 13, 2011, 8:09 PM EST) -- A New York federal judge on Tuesday refused to dismiss a longtime friend of ICP Asset Management founder Thomas C. Priore from a U.S. Securities and Exchange Commission suit alleging Priore defrauded investors in collateralized debt obligations that were invested primarily in mortgage-backed securities.

U.S. District Judge Lewis A. Kaplan denied a motion for dismissal from Bertrand H. Smyers, who took partial control of Priore's houses and other property before the SEC filed its lawsuit against the ICP founder. The SEC claims Priore and ICP deliberately...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. ICP Asset Management, LLC et al


Case Number

1:10-cv-04791

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Lewis A. Kaplan

Date Filed

June 21, 2010

Law Firms

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.