Adams & Reese Tries To Shake $300M Stanford Fraud Suit

Law360, New York (June 7, 2011, 2:11 PM EDT) -- Adams and Reese LLP on Monday filed a motion to dismiss a putative class action in Texas implicating the firm in Robert Allen Stanford’s alleged $7.2 billion Ponzi scheme.

The New Orleans-headquartered firm rebuffed claims from the official committee of Stanford investors and a brace of proposed class plaintiffs that it was liable for helping structure a Stanford unit that ultimately sold investors $300 million of allegedly bogus Stanford International Bank Ltd. certificates of deposit.

While the plaintiffs claimed Adams and Reese was complicit in the...
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