Deloitte, Sidley Austin, Others Settle Ponzi Claims For $234.6M

Law360 (July 10, 2019, 5:09 PM EDT) -- Investors in the now-defunct Aequitas Management LLC have reached more than $234.6 million in settlements with Sidley Austin, Deloitte and others accused of aiding the investment firm's $350 million Ponzi scheme.

In what they believe to be "the largest settlement in a securities case in Oregon history," counsel for the investors told a federal district judge in Portland on Tuesday that they have reached agreements with each of the defendants in their suit seeking to hold several finance companies and law firms liable for their participation in Aequitas' illicit securities offerings.

Though they deny any liability, the defendant firms each agreed...

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