SunTrust, Underwriters Escape Securities Class Action

Law360, Washington (August 29, 2012, 6:42 PM EDT) -- A Georgia federal judge tossed a securities class action Tuesday that claimed SunTrust Banks Inc. and its underwriters misled investors about the bank's financial situation, saying the plaintiff and its counsel carelessly misconstrued their evidence against the companies.

U.S. District Judge William S. Duffey reconsidered his refusal to throw out Belmont Holdings Corp.'s case against SunTrust, Morgan & Stanley Co., Merrill Lynch & Co., UBS Securities LLC and Ernst & Young LLP in September after it came to light that a key witness hadn't seen loan...
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