June 9, 2008
Supreme Court Rules in RICO Mail Fraud Case
In a unanimous opinion delivered by Justice Thomas in the case of Bridge et al. v. Phoenix Bond & Indemnity Co. et. al., the Supreme Court stated:
"The Racketeer Influenced and Corrupt Organizations Act (RICO or Act), 18 U. S. C. §§1961–1968, provides a private right of action for treble damages to "[a]ny person injured in his business or property by reason of a violation" of the Act’s criminal prohibitions. §1964(c). The question presented in this case is whether a plaintiff asserting a RICO claim predicated on mail fraud must plead and prove that it relied on the defendant’s alleged misrepresentations. Because we agree with the Court of Appeals that a showing of first-party reliance is not required, we affirm."
Commentary to follow.
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Posted by: Iche | Nov 22, 2010 6:02:31 AM