A federal district court has dismissed a complaint containing seven claims, including three RICO claims, against Coventry First LLC and several related corporate entities and principals. The Southern District of New York (Cote, J.), which handed down the decision in Ritchie Capital Management LLC et al. v. Coventry First LLC et al., 07 Civ. 3494 (S.D.N.Y.), on Tuesday, described the action as “essentially a breach of contract claim” between “sophisticated parties,” and held that Ritchie’s attempt to assert claims beyond a simple breach of contract “largely fails.”
Click here to see a copy of the Opinion and Order.