Because the federal RICO statute has been amended to bar claims that could be brought under securities law, a federal appeals court has upheld the dismissal of a $70 million class action RICO suit filed by the victims of an alleged Ponzi scheme. U.S. Circuit Judge Theodore A. McKee said Congress included the RICO amendment in the Private Securities Litigation Reform Act because it wanted to "completely eliminat[e] the so-called 'treble damage blunderbuss of RICO' in securities fraud cases."
September 03, 1999 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Because the federal RICO statute has been amended to bar claims that could be brought under securities law, a federal appeals court has upheld the dismissal of a $70 million class action RICO suit filed by the victims of an alleged Ponzi scheme.
U.S. Circuit Judge Theodore A. McKee said Congress included the RICO amendment in the Private Securities Litigation Reform Act because it wanted to “completely eliminat[e] the so-called ‘treble damage blunderbuss of RICO’ in securities fraud cases.”
Presented by BigVoodoo
Law firms & in-house legal departments with a presence in the middle east celebrate outstanding achievement within the profession.
The premier educational and networking event for employee benefits brokers and agents.
The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware.
Atlanta s John Marshall Law School is seeking to hire one or more full-time, visiting Legal WritingInstructors to teach Legal Research, Anal...
Shipman is seeking an associate to join our Labor & Employment practice in our Hartford, New Haven, or Stamford office. Candidates shou...
Lower Manhattan firm seeks a premises liability litigator (i.e., depositions, SJ motions, and/or trials) with at least 3-6 years of experien...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
