Stanford Investors Could See Prompt SIPC Relief

Law360, New York (February 10, 2012, 4:57 PM EST) -- A Washington federal judge on Thursday ruled that the U.S. Securities and Exchange Commission does not need to sue in order to compel the Securities Investor Protection Corp. to begin compensating victims of Robert Allen Stanford's alleged $7 billion Ponzi scheme.

U.S. District Judge Robert Wilkins ruled the SEC’s action against the SIPC did not have to be an all-out civil trial, but should go forward as a summary proceeding.

Judge Wilkins maintained that the purpose of the Securities Investor Protection Act is to allow a...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.