CORRECTED: SNR Denton Not Liable For Filing Error In $7M Citigroup Deal

Law360, New York (February 15, 2013, 2:35 PM EST) -- A California federal judge on Wednesday dismissed Impac Secured Assets Corp.'s claim that SNR Denton was liable for an omission in regulatory filings that allegedly affected a $7.3 million securities sale, finding that the firm had no duty to correct the a mistake it hadn't made.

Impac had claimed that SNR Denton should indemnify it for a lawsuit Citigroup Global Markets Inc. filed after purchasing the securities pursuant to the incorrect information because the firm caused the asset manager to wait six weeks to file corrected...
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