A federal judge has denied a Rule 11 motion against Resorts International in its suit against Morgan Stanley for a share of profits from a planned New Jersey gaming complex. But the judge also said that Resorts' Rule 11 cross-motion was unlikely to succeed. The suit alleges that a then-Resorts employee helped Morgan Stanley buy the land parcel for the complex, which deprived Resorts of a chance to profit. The sanctions motions came after revelations that the employee had told Resorts the land was for sale.
July 31, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A federal judge has denied a Rule 11 motion against Resorts International in its suit against Morgan Stanley for a share of the future profits of a planned gaming complex in Atlantic City, N.J.
Resorts may not fare any better on its cross-motion for Rule 11 sanctions under the Federal Rules of Civil Procedure. “Don’t lose any sleep … . I’m not inclined to rule on it favorably,” U.S. District Judge Jerome Simandle in Camden, N.J., said as he ruled from the bench on July 20.
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