BDO Seeks To Squash Stanford Investor Suit

Law360, New York (August 15, 2011, 11:51 AM EDT) -- BDO USA LLP, the longtime auditor for Robert Allen Stanford's companies, asked a Texas federal court on Friday to dismiss a securities class action claiming it was complicit in Stanford's alleged $7 billion Ponzi scheme.

In a six-page motion, BDO said the plaintiffs neglected to show it aided Stanford's fraud in any way or was even aware of the massive scheme. The complaint also fails to establish that BDO intended to defraud the Stanford investors, breached its fiduciary duties or made any fraudulent statements, the defendant...
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