Willis Group Beats Stanford Investors' Fraud Suit

Law360, New York (October 27, 2011, 10:37 PM EDT) -- A Texas federal judge on Thursday threw out a lawsuit brought by a putative class of Mexican investors against U.K.-based insurance broker Willis Group Holdings Ltd. over its alleged role in Robert Allen Stanford's $7 billion Ponzi scheme.

The plaintiffs had accused Willis Group, fellow insurance broker Bowen Miclette & Britt and two individual insurance brokers of providing Stanford — chairman of now-defunct Stanford Financial Group — with misleading letters used for marketing purposes to obtain prospective clients, according to the July 2009 complaint.

The plaintiffs...
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