US court dismisses a cause of action in EIG lawsuit against Keppel O&M

Singapore

KEPPEL Offshore & Marine (Keppel O&M), a unit of Keppel Corp, has succeeded in its motion to dismiss one of two causes of action brought against it by EIG Management Co's funds in the US.

The court dismissed the cause of action under the Racketeer Influenced and Corrupt Organizations Act (RICO) in the US, even though "it is typically difficult to succeed in a motion to dismiss as the court would assume all facts alleged by plaintiffs to be accurate", Keppel Corp said in a bourse filing on Wednesday morning.