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Browse: Home / 2014 / February / 26 / Supreme Court Rules Allen Stanford Ponzi-Scheme Victims Can Sue Third Parties – Law Blog – WSJ

Supreme Court Rules Allen Stanford Ponzi-Scheme Victims Can Sue Third Parties – Law Blog – WSJ

By Securities Docket on February 26, 2014, 12:32 pm

Victims of R. Allen Stanford’s $7 billion Ponzi scheme can sue law firms and other third parties on allegations they aided the fraud, the Supreme Court ruled Wednesday.  The court, in a 7-2 ruling written by Justice Stephen Breyer, said the victims’ class-action lawsuits were allowed even though a 1998 federal law largely prohibits state-law class-action claims for securities fraud.

via Supreme Court Rules Allen Stanford Ponzi-Scheme Victims Can Sue Third Parties – Law Blog – WSJ

Posted in Class Actions, Industry, Top | Tagged Aiding and Abetting, Stanford

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