Proskauer Rose Targeted In Stanford Ponzi Fallout

Law360, New York (August 28, 2009, 3:34 PM EDT) -- Proskauer Rose LLP has been hit with a proposed class action over the $8 billion Ponzi scheme allegedly engineered by Texas billionaire R. Allen Stanford, with the accusations of illegal activity focusing on one litigation partner in particular.

On Thursday, a group of Stanford Financial Group investor clients filed suit in the U.S. District Court for the Northern District of Texas, accusing the firm and securities partner Thomas Sjoblom of aiding and abetting the massive fraud scheme allegedly carried out by Stanford, former Chief Financial Officer...
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