Court KOs Securities Suit Against Blount Parrish

Law360, New York (April 23, 2008, 12:00 AM EDT) -- A federal appeals court has quashed a bid to revive a securities fraud class action against Alabama investment bank Blount Parrish over alleged misrepresentations connected to a $5.8 million offering of bonds 10 years ago.

The U.S. Court of Appeals for the Eleventh Circuit affirmed an Alabama district court's ruling in an opinion handed down Wednesday, saying the action, brought five years after the offering, was barred by the statute of limitations.

The case was filed in the U.S. District Court for the Middle District of...
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