Proskauer To Pay $63M To Settle Stanford Ponzi Case
Law360 (August 29, 2018, 6:41 PM EDT) -- The court-appointed receiver in the R. Allen Stanford $7 billion Ponzi scheme case and a group of bilked investors have announced a $63 million settlement that would end further litigation against law firm Proskauer Rose LLP, which formerly employed a partner who represented entities affiliated with the fraud.
In a motion filed with the court on Friday, receiver Ralph S. Janvey, the Official Stanford Investors Committee and Proskauer said they have reached a deal where the law firm will admit no wrongdoing and pay $63 million to settle all claims. Attorneys representing the receiver and investors have a contingency fee agreement that...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!