Stanford Examiner Backs Investor Actions In 5th Circ.

Law360, New York (December 1, 2011, 9:18 PM EST) -- The examiner and investors committee for proceedings over R. Allen Stanford's alleged Ponzi scheme on Wednesday contested before the Fifth Circuit a federal judge's dismissal of three consolidated putative class actions brought by investors against brokers they claim protected Stanford's scheme.

The examiner and committee said in an amicus curiae brief that U.S. District Judge David Godbey erred when he tossed the suits under the reasoning that they were precluded by the Securities Litigation Uniform Standards Act.

Though Judge Godbey had found that the securities at...
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