Ritchie Capital Mgmt. v. GECC, No. 15-2816 (2d Cir. 2016)
Annotate this CaseRitchie filed suit against GECC for civil conspiracy to commit fraud, for aiding and abetting fraud, and for negligence in connection with Thomas Petters' Ponzi scheme. The district court granted GECC's motion to dismiss based on Ritchie's lack of standing. The district court reasoned that Ritchie lacked standing to bring the conspiracy and aiding and abetting claims because the causes of action were the exclusive property of the Petters Estate and, in the alternative, that Ritchie failed to state a claim because Ritchie failed to plead proximate cause for the aiding and abetting claim and failed to plead an “overt act” for the civil conspiracy claim. The court concluded that Ritchie lacks standing to assert its claims because Ritchie has not alleged a particularized injury. The court adopted the district court's opinion and order. Accordingly, the court affirmed the judgment.
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