This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sayles Werbner Wins Key Appeals Ruling In Arab Bank Terror Victims Case

NEW YORK, Jan. 18, 2013 /PRNewswire/ -- The U.S. Court of Appeals for the 2 nd Circuit today issued a ruling that will allow a group of terrorism victims to continue their lawsuit against Jordan-based Arab Bank over claims that the bank and its New York branch served as catalysts for financing worldwide terrorism activities.

Attorney Mark Werbner of Dallas' Sayles Werbner is among a group of lawyers representing the terrorism victims.

"We are extremely pleased that the 2 nd Circuit has cleared the way for our clients to go to trial on behalf of their loved ones who suffered severe injuries and lost their lives as a result of terrorist acts," says Mr. Werbner. "Arab Bank should be held accountable for its role in terrorism, and my clients are looking forward to presenting their evidence before a judge and jury."

The 2 nd Circuit's decision upholds an earlier ruling issued by Judge Nina Gershon of the U.S. District Court for the Eastern District of New York in Brooklyn, which held that jurors will be instructed that they may infer that Arab Bank willfully and knowingly provided financial services to organizations designated by the United States as Foreign Terrorist Organizations. The appeals court also upheld Judge Gershon's prior ruling that jurors may infer that Arab Bank processed and distributed payments to terrorists on behalf of the Saudi Committee to Support the Intifada Al Quds.

The original lawsuit, Courtney Linde, et al. v. Arab Bank, PLC, No. 04 CV 2799, was filed in 2004 under the 1990 Anti-Terrorism Act. Currently, more than 100 families and 700 individuals in the Linde case and related cases are seeking more than $1 billion in damages based on Arab Bank's alleged role in financially supporting terrorist activities.

The plaintiffs claim that Arab Bank provided "systematic" financial support to the families of all Palestinian terrorists killed, injured or incarcerated since the start of the Al-Aqsa (Second) Intifada in the Fall of 2000. Specially, the plaintiffs say Arab Bank administered a terrorist death-and-dismemberment insurance scheme that allowed families of so-called "martyrs" to collect financial payments by registering with the bank.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,795.74 +19.31 0.12%
S&P 500 1,980.34 -6.71 -0.34%
NASDAQ 4,747.1770 -34.0870 -0.71%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs