United States First Circuit
Calderon-Serra v. Wilimington Trust Company, 11-2449
In suit arising out of plaintiffs' purchase of nonrecourse notes issued by the Puerto Rico Conservation Trust Fund (PRCTF), against trustee and indenture trustee of the securities that the PRCTF purchased with the Note proceeds, alleging that plaintiffs were deceived into believing that the notes were backed by the government of Puerto Rico, the district court properly granted defendants' motion to dismiss, where: 1) the Trust Indenture Act of 1939 does not provide jurisdiction; and 2) the district court did not abuse its discretion in denying leave to file a second amended complaint.
Appellate Information
- Decided 04/22/2013
- Published 04/22/2013
Judges
- SELYA
Court
- United States First Circuit