A Denver judge has thrown out a lawsuit that state regulators filed against an investment broker and signaled she will do the same to their case against an Indian restaurant.
Attorneys for Bissonnette and Bombay Group asked Wallace, who is presiding over both cases, to dismiss them because the alleged misdeeds occurred in 2016 and the Colorado Securities Act, the law they were being sued under, has a statute of limitations of five years. “Coloradans lost hundreds of thousands of dollars because of Bisonnette’s lies and material omissions,” Chan said Tuesday. “We believe the court’s holding is wrong and harmful to investor protections under the Colorado Securities Act. We are considering our options.”Federal judge blocks Colorado’s new limits on certain short-term loans