7th Circ. Tosses RICO Suit Over Winterland Takeover

Law360, New York (March 23, 2009, 12:00 AM EDT) -- A federal appeals court has upheld a lower court's dismissal of allegations that private equity groups illegally wrested control of Winterland Concessions Co., finding the racketeering claims by noteholders and others harmed in the subsequent bankruptcy to be time-barred.

Judges Kenneth F. Ripple, Daniel A. Manion and Terence T. Evans of the U.S. Court of Appeals for the Seventh Circuit on Thursday tossed accusations that the equity firms launched a conspiracy to defraud Winterland’s creditors, holding that plaintiffs filed suit roughly 6 years too late....
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