Ex-Brookstone CEO Asks Judge To Undo $10M Fraud Ruling

Law360, Los Angeles (April 10, 2012, 7:27 PM ET) -- An attorney for Brookstreet Securities Corp.'s former CEO on Tuesday urged a California federal judge to reverse a $10 million ruling against his client for securities fraud, saying questions remained about whether he was responsible for brokers who sold risky investments to conservative investors.

Marc. J. Schneider, representing Stanley C. Brooks, told U.S. District Judge David O. Carter that there were disputed questions of fact about whether his client was liable as the person in control of three former Brookstreet brokers accused of securities fraud. Schneider...
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