IP Atty Loses Pyramid-Scheme Case Against Icahn, Top Banks

Law360, Los Angeles (January 21, 2014, 8:46 PM EST) -- A New York federal judge has dismissed an intellectual property attorney’s suits against several banking giants and activist investor Carl Icahn over their loans to Herbalife Ltd., ruling the attorney knew his risk in investing in the alleged pyramid scheme, according to a decision filed Tuesday.

U.S. District Judge Louis L. Stanton ruled Friday that the defendant banks’ actions in lending to Herbalife were not directly correlated with attorney Daniel Ravicher’s complaint that Herbalife is being fraudulently sustained by outside lenders rather than actual business success,...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Ravicher v. Icahn


Case Number

1:13-cv-01666

Court

New York Southern

Nature of Suit

Fraud or Truth-In-Lending

Judge

Louis L. Stanton

Date Filed

March 13, 2013


Case Title

Ravicher v. Moynihan et al


Case Number

1:13-cv-01665

Court

New York Southern

Nature of Suit

Stockholders Suits

Judge

Louis L. Stanton

Date Filed

March 13, 2013

Law Firms

Companies

Government Agencies

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.