Friday, July 11, 2014





High court may block Stanford investor lawsuits


March 17. 2013 3:00AM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) The Supreme Court will hear an appeal that seeks to shut down class-action lawsuits from investors who lost billions in a massive Ponzi scheme orchestrated by convicted former Texas tycoon R. Allen Stanford.


The justices on Friday said they would review appeals court rulings allowing the suits to proceed against individuals, law firms and investment companies that the investors claim aided Stanford's fraud.


At issue is whether a federal law aimed at limiting private lawsuits that allege securities fraud can be used to block the suits investors filed in Louisiana and Texas. A federal judge initially threw them out, but the 5th U.S. Circuit Court of Appeals in New Orleans said the suits could go forward.


Last year, a judge sentenced Stanford to 110 years in prison.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds