Proskauer Rose Can’t Put Stanford Action On Hold

Law360, New York (March 12, 2012, 9:08 PM EDT) -- A Texas federal judge denied Proskauer Rose LLP’s bid to stay proceedings in a class action alleging the firm protected accused Ponzi schemer Robert Allen Stanford's bank, preserving the court’s ability to decide whether to remand the case back to state court.

The firm succeeded in removing the case from Texas state court in January and immediately asked U.S. District Judge David Hittner to grant a stay while the Judicial Panel on Multidistrict Litigation decides whether to consolidate the suit — and five nearly identical actions...
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