Lehman Investors Get $640M Fraud Suit Sent To State Court

Law360, New York (May 31, 2013, 2:35 PM EDT) -- A New York federal judge found Thursday that a $640 million securities fraud case against a Lehman Brothers Holdings Inc. unit can be timely adjudicated in state court and won't significantly impact the liquidation of Lehman's estate.

U.S. District Judge Lorna G. Schofield ruled that although another judge had previously rejected an earlier request for mandatory abstention based on the factor of whether the case would suffer greater delay in state court, that ruling is not binding.

While a state court proceeding might not be faster...
To view the full article, register now.