Quaak v. Dexia, S.A.

MEMORANDUM AND ORDER

SARIS, United States District Judge.

I. INTRODUCTION

Class plaintiffs bring claims for securities fraud against Dexia Bank Belgium (“Dexia”), the successor to Artesia Banking Corp., S.A. (“Artesia Banking”), the former chief commercial banker for Lern-out & Hauspie Speech Products N.V. (“L & H”). Defendant Dexia moves to dismiss Plaintiffs’ Third Amended Complaint (“TAC”) on grounds that the amendments to the complaint are time-barred and fail to state claims under the securities laws. After hearing and review of the briefs, the motion is DENIED.

II. FACTUAL BACKGROUND AND…