Clifford Chance Defeats Diagnostic Ventures Securities Suit

Law360, Philadelphia (January 4, 2013, 6:48 PM EST) -- A Pennsylvania federal judge on Friday ruled that Clifford Chance LLP had no liability for an alleged scheme that led to the 2003 bankruptcy of Diagnostic Ventures Inc., releasing the law firm from the long-running investor class action over the bankruptcy.

U.S. District Judge Legrome Davis granted summary judgment in favor of the law firm, concluding there was no evidence that the investors who claimed they suffered as a result of the scheme had relied on the firm’s supposedly deceptive acts.

“The plaintiff investors have not...
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