NY Court Overturns Icahn's Federal-Mogul Investment Suit Win

Law360, New York (June 21, 2012, 6:28 PM EDT) -- A New York state appeals court on Thursday dealt activist investor Carl Icahn a blow, saying summary judgment should be granted to a private investment firm that accused an Icahn-controlled holding company of flouting an agreement to buy bonds tied to auto manufacturer Federal-Mogul Corp.

In a 4-0 decision, a panel found that Icahn's interests failed to prove that they allowed a Q Investments LP affiliate a chance to participate in the purchase of $108 million in bonds tied to Federal-Mogul, which was in the process...
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