Stanford Investors Accuse Broker Of Negligence

Law360, New York (August 11, 2009, 3:33 PM EDT) -- Four investors who collectively lost more than $26.5 million in Robert Allen Stanford's alleged $8 billion Ponzi scheme have sued their broker, Robert David Haggard, for negligent misrepresentation in his offering of investments with Stanford International Bank Ltd. and its affiliates.

The complaint, filed Monday in the U.S. District Court for the Northern District of Mississippi John Taylor Paschal, Suzanne Paschal, Mary Edith Shapley, Edith Paschal and their business Price Paschal Lumber Company, Inc., accuses Haggard of failure to “exercise reasonable care” in his recommendations, representations...
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