2nd Circuit: Investment Fund Failed To Allege Oil Company Engaged In Fraud Scheme

( December 4, 2024, 3:13 PM EST) -- NEW YORK— A panel of the Second Circuit U.S. Court of Appeals affirmed a lower court opinion dismissing a case brought by an investment fund that alleged that a Venezuelan oil and gas company defrauded investors by issuing invalid notes and later defaulting on them, finding that the investment fund failed to allege a plausible scheme to defraud....