F1 Chief Beats $650M Suit Over Bribe-Tainted Sale

Law360, New York (January 22, 2014, 2:21 PM EST) -- A New York state judge has tossed a $650 million suit accusing the head of Formula One of paying a bribe to steer the sale of the racing company to London private equity house CVC Capital Partners, ruling that the court lacked jurisdiction to hear the case.

New York Supreme Court Justice Eileen Bransten found that Bluewaters Communications Holdings LLC's suit, which contends that its bid to buy the 75 percent stake in Formula One held by JPMorgan Chase & Co., Lehman Brothers Holdings Inc. and...
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