Proskauer, Chadbourne Halt Suit Over $7B Stanford Ponzi

Law360, New York (March 8, 2013, 7:28 PM EST) -- A federal judge on Friday put the brakes on the Stanford Financial Group’s receiver’s suit accusing Proskauer Rose LLP and Chadbourne & Parke LLP of helping Robert Allen Stanford pull off his $7 billion Ponzi scheme until motions to dismiss in a similar suit are resolved.

The parties last week jointly asked the judge to stay the case, saying if the firms’ motions to dismiss the other suit are granted, they agree to move ahead in this suit, but if the receiver’s motion to transfer the...
To view the full article, register now.