We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Shareholder Suit Against Vanguard Tossed

Law360 (April 6, 2009, 12:00 AM EDT) -- A federal judge has dismissed a lawsuit alleging investment manager The Vanguard Group Inc. and its executives and affiliates illegally invested money in gambling operations that were the subject of a government crackdown in 2006.

Judge Denise Cote of the U.S. District Court for the Southern District of New York on Thursday ruled that plaintiffs in the proposed class action lacked standing to pursue federal racketeering claims. She declined to exercise supplemental jurisdiction over the state law claims and dismissed the case.

The defendants had argued...
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.