RBC Asks Court To Ax $21M Verdict In Failed Trade Suit

Law360, Dallas (March 28, 2013, 7:43 PM EDT) -- A Royal Bank of Canada unit asked a Texas judge Monday to throw out a jury's $21.5 million verdict for Highland Capital Management LP in a dispute over whether the two companies struck a binding securities deal in 2001, saying the claims are time-barred and shouldn't have reached trial.

RBC Capital Markets LLC moved for judgment notwithstanding the verdict, arguing a tolling agreement Highland relied on to make its claims timely had expired and that an indefinite extension of the agreement is void, meaning the jury...
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