Mantria Investors Seek Nod On $6M Deal In Green Ponzi Suit

Law360, Los Angeles (February 14, 2014, 8:53 PM EST) -- A group of investors on Friday asked a Colorado federal court to grant preliminary approval to a $6 million settlement of their claims against affiliates of green investment company Mantria Corp. over an alleged $54 million Ponzi scheme that primarily targeted elderly citizens and new retirees.

Lead plaintiff Touchstone Group LLC, an investment advisory firm that invested $235,000 in Mantria between August and December 2008, filed an unopposed motion for preliminary approval of the $6.05 million settlement and certification of the settlement class. If approved, the...
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