Third Circuit Grants Trial on Pa. Investors' Securities Claim

, The Legal Intelligencer


The connection between a New York investment firm and the Ponzi scheme run by one of its principals is strong enough to warrant a trial on a securities fraud claim, the U.S. Court of Appeals for the Third Circuit has ruled, reversing the trial court's dismissal of that claim after a handful of Pennsylvania investors brought several claims against the firm and its directors.

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