Venture Capital Firm Can't Get Fraud Suit Sent To Calif.

Law360, Houston (August 23, 2012, 10:29 PM EDT) -- A Texas appeals court on Thursday ruled that investors' securities fraud claims against venture capital firm Round One Investments LP didn't have to be litigated in California because they were not governed by a forum selection clause in the investors' contracts with the company.

Overturning a lower court's dismissal of the case, the appeals court ruled that the fraud claims — which accuse Round One of violating of the Texas Securities Act by misleading the investors into buying stock in one of its holdings — were...
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