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Court rules Rams lawsuit can be heard in St. Louis courtroom
Stock Market News |
2019/08/30 09:55
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The Missouri Supreme Court has ruled that a lawsuit filed over the Rams' departure from St. Louis will be heard in a St. Louis courtroom, a defeat for the NFL team's owner who sought to send the case to arbitration.
The court issued its ruling Tuesday in a lawsuit filed by St. Louis city and county and the St. Louis Regional Convention and Sports Complex Authority, which owns the domed stadium where the Rams formerly played. It named Rams owner Stan Kroenke, who moved the team to Los Angeles for the 2016 season, the NFL and league owners.
It wasn't immediately clear if an appeal was planned. Messages left Wednesday with the Rams, Kroenke's attorney and the NFL were not immediately returned
The lawsuit alleged that the Rams' departure violated a 1984 league guideline that was established after the Raiders moved from Oakland to Los Angeles. The league, the Rams and Kroenke have argued that the disagreements should be settled behind closed doors in arbitration.
The suit seeks financial damages, but a win for the city, county and dome authority would not return the team to St. Louis.
The Rams' departure left a bitter taste in St. Louis, which lost an NFL team for the second time in 30 years ? the Cardinals moved to Arizona in 1987.
Last month, a judge gave preliminary approval to the settlement of a separate suit filed on behalf of fans who bought St. Louis Rams tickets and team merchandise. The settlement could be worth up to $25 million. The
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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