New Trial Order Upheld In BNY Ponzi Scheme Case

Law360 (February 26, 2008, 12:00 AM EST) -- The Bank of New York Trust Co. NA will get a new trial in a case involving the collapse of an alleged Ponzi scheme, now that a California appeals court has upheld a ruling that the jury's $15 million verdict in favor of investors was excessive.

The subsidiary of Bank of New York persuaded the First District Court of Appeal of California that the state supreme court in Marin County, which ordered a second trial after finding the investors' evidence speculative, had ruled correctly.

The investors...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.