Federal Court Grants London & Stout’s Motion to Dismiss Securities Fraud Complaint with Prejudice.
December 3, 2021
On December 3, 2021, the Honorable R. Gary Klausner of the U.S. District Court for the Central District California granted the firm’s motion to dismiss a third-party securities fraud complaint against our client with prejudice. After being sued for a scheme to defraud investors, a group of defendants attempted to evade responsibility by shifting blame to our client.
Consistent with our general approach, we immediately looked for the most efficient path to victory for our client. Within days of being retained, we filed a motion to dismiss the third-party complaint as fundamentally flawed in incurable ways. Adopting our reasoning—and agreeing that any effort to amend would be futile—the court dismissed the third-party complaint without leave to amend as procedurally improper and untimely. We are proud to have achieved vindication for our client quickly and efficiently.