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Pinnacle case: HLF fails to get back $32m

Published Fri, Oct 25, 2013 · 10:00 PM
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Singapore

HONG Leong Finance (HLF) has lost its bid to claw back from Morgan Stanley S$32 million in compensation paid out to Singapore investors of the doomed Pinnacle Notes.

According to court papers obtained by The Business Times, the US District Court in New York this week ruled that HLF's claim under the US Lanham Act was not made out, and dismissed the rest of the case because of a lack of jurisdiction.

According to the ruling, the Lanham Act may extend to allegedly infringing conduct that occurs outside of the United States when necessary. But in this case, the federal court found that the Act doesn't apply because Hong Leong Fina…

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