Judge Denies Shearman & Sterling DQ, Nixes Investment Suit

Law360, New York (June 22, 2012, 2:23 PM EDT) -- A New York state judge on Tuesday dismissed a lawsuit alleging that a fund set up to invest in real estate in India pilfered $3 million invested by the plaintiffs, and refused a motion to disqualify the defendants' firm, Shearman & Sterling LLP, for alleged conflict of interest.

Ravi Akhoury and Om Investments brought the derivative suit in April 2011 on behalf of Banyan Real Estate Fund and Banyan Real Estate Co., claiming that Shearman & Sterling should not be allowed to represent defendant fund manager...
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