Stanford Investors Protest Proskauer's Bid To Pause Suit

Law360, New York (February 21, 2012, 5:58 PM EST) -- Plaintiffs in one of six lawsuits claiming Proskauer Rose LLP protected accused Ponzi schemer Robert Allen Stanford's bank protested a motion to stay the suit Monday, calling it a ploy to prevent the court from remanding the suit before the Judicial Panel on Multidistrict Litigation reaches a decision.

The plaintiffs, 49 investors who lost money in Stanford's alleged $7 billion criminal scheme, said the Southern District of Texas, to which Proskauer Rose removed the suit Jan. 27, can very easily decide whether removal to federal court...
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