2nd Circuit Panel Affirms Dismissal Of Market Manipulation Claim

2nd Circuit Panel Affirms Dismissal Of Market Manipulation Claim

NEW YORK - A split Second Circuit U.S. Court of Appeals panel on May 7 affirmed in part a federal district court's ruling dismissing federal securities law claims against a defendant in a market manipulation suit, ruling that the plaintiffs failed to "meet the standards for private damage actions under" federal securities law (Mohammed Fezzani, et al. v. Bear, Stearns & Co. Inc., et al., No. 09-4414, 2nd Cir.).

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