LPGM

Florida Securities Class Action Dismissed With Prejudice

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Summary

In a complete victory for LPGM’s securities practice group, the Civil Division of the 20th Judicial District Court in Lee County, Florida dismissed with prejudice a putative class action alleging nearly $2 billion in damages. Plaintiff, a Florida-based mutual fund investor, brought claims under the federal securities laws against the fund, its advisor, distributor, trustees, and certain officers, alleging misrepresentations and omissions in the fund’s offering materials regarding risks, valuation and liquidity. In this early-phase dismissal, the Court adopted defendants’ arguments that personal jurisdiction was lacking and entered judgment in favor of defendants. LPGM led the defense of the matter.

LPGM Team: James F. Moyle, Jacob Englander, and Christina Dellaporte. Contact: LPGM Partner James F. Moyle, jmoyle@lpgmlaw.com, 212-784-2407.