A federal judge in New York ruled that neither the Chinese firm nor one of its partners had acted with scienter, or knowledge of wrongdoing, in an alleged fraud.
August 05, 2013 at 09:57 AM
1 minute read
A federal judge in New York has dismissed for the third time a $10 million securities fraud suit against Chinese firm DeHeng Law Offices and one of its former partners.
The case stemmed from a 2008 deal in which the plaintiffs, several U.S. investment funds, attempted to acquire a Chinese distributor of hospital equipment. The plaintiffs claimed their investment of around $10 million was stolen by a man associated with and possibly married to former DeHeng partner Helen Lv (pronounced Lü).
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