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...
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