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Foreign Plaintiffs Tossed From Rhodia Securities Case

Law360 (September 28, 2007, 12:00 AM EDT) -- Potentially saving French chemical company Rhodia SA millions of dollars, a federal judge on Wednesday wiped the case completely clean of claims by foreign corporations and told United States investors that they would have 45 days to file a new complaint.

The case is a federal class action on behalf of purchasers of Rhodia securities from April 26, 2001 to March 24, 2005.

Judge Deborah Batts of the U.S. District Court for the Southern District of New York found that the foreign plaintiffs in the case...
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