Suit Survives Against MDL Settlement Administrator
A class action against an accounting firm whose former employee is alleged to have distributed nearly $6 million worth of fraudulent claims from a multidistrict litigation settlement can survive despite technically being filed outside the statute of limitations, a federal judge has ruled.
August 14, 2017 at 01:15 PM
3 minute read
A class action against an accounting firm whose former employee is alleged to have distributed nearly $6 million worth of fraudulent claims from a multidistrict litigation settlement can survive despite technically being filed outside the statute of limitations, a federal judge has ruled.
U.S. District Judge Jan DuBois of the Eastern District of Pennsylvania on Aug. 11 gave a green light to the lawsuit against Heffler, Radetich & Saitta to survive a statute of limitations challenge. The claims stem from a $490 million settlement involving a securities litigation that arose from the merger between BankAmerica Corp. and NationsBank.
Although plaintiff James Oetting lodged his proposed class lawsuit more than two years after a former employee of the accounting firm pleaded guilty to fraud in connection with settlement funds the firm managed, DuBois determined the defendants had been aware of the claims through a supplemental complaint Oetting filed with the MDL two years before the lawsuit was properly filed in Missouri federal court.
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