2nd Circ. Nixes Allen Family Forgery Suit

Law360, New York (September 6, 2013, 7:38 PM EDT) -- The Second Circuit on Friday threw out a lawsuit that a lending company had brought against the head of investment firm Allen & Co., who allegedly conspired to forge a cousin’s signature to hold up collection of a $25 million court judgment.

Company Excelsior Capital LLC suffered no actual damages from forgery allegedly helped by Herbert A. Allen, a prominent member of a family known for its importance on Wall Street, so it cannot pursue its suit for punitive damages, a three-judge panel ruled.

Excelsior claimed...
To view the full article, register now.

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.