Paramount Investors To Proceed With Fraud Suit

Law360, New York (January 11, 2012, 9:52 PM EST) -- A New York federal judge refused Wednesday to dismiss a securities fraud lawsuit against Viacom Inc. unit Paramount Pictures Corp. by investors who had committed $40 million to help fund a slate of Paramount movies based on an allegedly misleading private placement memorandum.

Paramount had moved to dismiss the suit lodged by Allianz Risk Transfer Inc., Marathon Structured Finance Fund LP, NewStar Financial Inc. and Munich Re Capital Markets New York Inc. based on the Supreme Court's recent decision in Janus Capital Group Inc. v. First...
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