Chadbourne, Proskauer Get Stanford Ponzi Suit Booted

Law360, New York (October 21, 2011, 10:09 PM EDT) -- A Texas federal judge on Friday tossed a putative class action against Chadbourne & Parke LLP, Proskauer Rose LLP and its former partner Thomas Sjoblom, who allegedly helped shield accused Ponzi schemer R. Allen Stanford's bank from investigators.

U.S. District Judge David C. Godbey said he dismissed the suit lodged by burned Stanford investors on the same grounds on which he dismissed another Stanford-related suit in August: Their claims, which were made under Texas state law, are preempted by the Securities Litigation Uniform Standards Act....
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