Coventry motion to dismiss granted
I wonder if this will be one of the last bits of news we receive regarding the Coventry and Ritchie Capital issue.
Coventry’s Motion to Dismiss Granted in Ritchie Lawsuit
In a ruling issued on February 29, 2008, Judge Denise Cote of the U.S. District Court for the Southern District of New York granted Coventry First’s motion to dismiss. At the same time, Judge Cote denied Ritchie’s motion for reconsideration.
As a result, all of Ritchie’s claims against Coventry for breach of fiduciary duty, fraud, and RICO violations have been dismissed by the Court. The only remaining issue to be resolved is a breach of contract claim.”
In another contract dispute between the parties, the U.S. Bankruptcy Court for the Southern District of New York approved a settlement under which Ritchie paid Coventry $10 million.
Source: PR Newswire
Previous Coventry and Ritchie News:
More Ritchie Capital News
Ritchie Unit and Coventry reach deal
Coventry calls Ritchie Capital action desperate
