Proskauer Can't Shake Stanford Ponzi Suit In Antigua
Law360 (January 27, 2020, 3:14 PM EST) -- A Texas federal judge has agreed with Proskauer Rose LLP that a $63 million settlement in a case involving the R. Allen Stanford $7 billion Ponzi scheme should apply to liquidators who filed a related case in Antigua and Barbuda, but he held that he cannot compel the Caribbean nation's court to listen to him.
While the January 2019 settlement should have ended further litigation against Proskauer, which formerly employed a partner who represented entities affiliated with the fraud, the Northern District of Texas does not have jurisdiction over the actions of liquidators working in Antigua, according to the Friday order...
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!