Foot Locker Escapes Veritas Suit Over $13M Loan

Law360, New York (October 28, 2015, 8:59 PM EDT) -- A New York judge has tossed Veritas Financial Partners’ suit claiming it was left with defaulted loans worth more than $13 million after Foot Locker verified bogus invoices used as a basis for a third-party vendor's loan, saying VFP didn’t show that the employees who allegedly verified the invoices were acting within the scope of their employment at Foot Locker.

In its March suit, VFP claimed Foot Locker Inc.’s former director of in-store marketing, Kathleen Smith, and Foot Locker’s current divisional vice president of franchise development,...
To view the full article, register now.