Class-actions by Allen Stanford investors revived

Victims of Allen Stanford’s estimated $7 billion Ponzi scheme won a victory when a federal appeals court said they may pursue class-action litigation against third parties they believe aided in the now-convicted swindler’s fraud. The 5th U.S. Circuit Court of Appeals in New Orleans reversed on Monday a 2011 lower-court ruling and cleared the way for state court cases against brokerages, lawyers and others accused of helping Stanford.

via Class-actions by Allen Stanford investors revived — Reuters