Stay Lifted On Suits Alleging Proskauer Rose Aided Stanford

Law360, New York (July 05, 2012, 2:10 PM ET) -- A Texas federal judge lifted a stay Tuesday on several class actions claiming Proskauer Rose LLP, Chadbourne & Parke LLP and others helped shield convicted Ponzi schemer R. Allen Stanford's bank from investigators, so as to proceed on motions to remand the lawsuits to state court.

The plaintiffs say they want the complaints moved to state court because the federal Securities Litigation Uniform Standards Act of 1998 does not apply. The Fifth Circuit, overturning a lower court judge’s decision to in a similar case in March,...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required