Correction: Lawsuit filed against Arab Bank

Published: Saturday, April 28 2007 12:08 a.m. MDT

A lawsuit filed by Shurat HaDin of the Israel Law Center against the Arab Bank is still in the discovery phase and seeks no specific amount of damages.

Arab Bank assets totaling $450 million were held in escrow by the U.S. Department of Treasury during a regulatory investigation not related to the suit. That investigation has been completed and the assets are no longer in escrow.

A story in Thursday's paper misreported the suit's status, the damages sought and the circumstances and amount of the funds held in escrow.

Also, Arab Bank denies knowingly transferring money from or to any group or individuals having terrorist affiliations.

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