Ex-CEO Poulsen Can't Escape $3B Nat'l Century Fraud Suit

Law360, New York (February 8, 2013, 8:25 PM EST) -- A New York federal judge on Friday refused to dismiss investors’ claims against National Century Financial Enterprises Inc. co-founder and former CEO Lance Poulsen over the health care finance company’s nearly $3 billion securities fraud scheme, saying the plaintiffs had standing to bring their claims.

According to U.S. District Judge James L. Graham, Poulsen’s arguments that the plaintiffs’ allegations that he was responsible for the fraud scheme were “unfounded and completely without merit” fell short in number of ways.

Poulsen had already been denied a motion...
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