THE District Court of the Southern District of New York has dismissed a lawsuit alleging racketeering and fraud on the part of 10 executives at Polar Air Cargo, one of whom committed suicide, reported San Jose's Justia
THE District Court of the Southern District of New York has dismissed a lawsuit alleging racketeering and fraud on the part of 10 executives at Polar Air Cargo, one of whom committed suicide, reported San Jose's Justia.com legal news portal. 'Polar's motion to dismiss must be and is granted,' said Judge Jesse Furman. 'That leaves only the question of whether plaintiff COD [Cargo On Demand] should be granted leave to amend its complaint.'
Judge Furman doubted COD can cure the defects in its claims 'especially insofar as the subsequent indictment raises the possibility that COD was complicit in, rather than a victim of fraud'.
'Moreover, COD was already given one opportunity to amend, which it did not use. That said, mindful that leave to amend. The court will grant COD one final opportunity to amend. COD shall file any amended complaint within 30 days.'
Cargo on Demand said it was told to pay US$4 million in 'third party consulting fees' to companies with ties to some of Polar's management over seven years.
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