Panel: Investors Failed To Plead Deceptive Conduct, Lack Standing To Sue

NEW YORK - A federal district court in New York did not err in dismissing a securities class action lawsuit against now-bankrupt Refco Inc. and others for lack of standing and for failure to properly plead deceptive conduct, a Second Circuit U.S. Court of Appeals panel ruled Jan. 10 in affirming (Capital Management Select Fund Ltd., et al. v. Phillip R. Bennett, et al., Nos. 08-6166, 08-6167 and 08-6230, 2nd Cir.; 2012 U.S. App. LEXIS 471). Full story on lexis.com