Arbitration Group Backs Stanford Investors' 5th Circ. Bid

Law360, New York (December 7, 2011, 7:59 PM EST) -- The Public Investors Arbitration Bar Association weighed in Tuesday on three class actions over R. Allen Stanford's alleged Ponzi scheme, urging the Fifth Circuit to reverse an erroneous standard it says courts have been using to define the scope of the Securities Litigation Uniform Standards Act.

The group filed an amicus curiae brief in connection with the three consolidated putative class actions brought by investors accusing brokers of protecting Stanford's alleged plot.

The suits, which are being appealed to the Fifth Circuit following their dismissal in...
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