Morrison Sinks Russian Investors' $75M Thor Fraud Suit

Law360, Los Angeles (March 20, 2013, 6:33 PM EDT) -- A New York federal judge on Friday dismissed Russian investors' $75 million fraud suit against hedge fund Thor United Corp., finding the plaintiffs failed to state a claim under the Securities Exchange Act and the Commodities Exchange Act in light of the U.S. Supreme Court's Morrison ruling.

In a case of first impression, U.S. District Judge Kimba M. Wood held that in light of the high court's 2010 decision in Morrison v. Nat'l Australia Bank Ltd. and the standard set by the Second Circuit in Absolute...
To view the full article, register now.




Case Information

Case Title

Starshinova et al v. Batratchenko et al

Case Number



New York Southern

Nature of Suit



Kimba M. Wood

Date Filed

December 23, 2011

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.