Greenberg Traurig Says Stanford Deal Imperils Law Firms

Law360, New York (March 26, 2013, 4:32 PM EDT) -- Greenberg Traurig LLP told a Texas federal court Monday that it opposed a settlement between the U.S. and Antiguan receivers in charge of compensating victims of Robert Allen Stanford's $7 billion Ponzi scheme because the deal could spark a second wave of litigation against law firms.

The settlement, which includes unobjectionable provisions to resolve disputes about jurisdiction over $300 million that Stanford had in the U.K., Switzerland and Canada, also had provisions that would allow more lawsuits to be filed against law firms like Greenberg Traurig...
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