SEC Caught In Crossfire In High Court's Stanford Ruling

Law360, New York (February 26, 2014, 8:33 PM EST) -- The U.S. Securities and Exchange Commission never wanted the U.S. Supreme Court to hear a dispute over the alleged role of Proskauer Rose LLP and Chadbourne & Parke LLP in Robert Allen Stanford's epic Ponzi scheme. Now the agency must cope with a ruling that raises fresh questions about its enforcement powers.

In a 7-2 ruling Wednesday, the high court said Stanford’s victims could pursue state law claims against Proskauer, Chadbourne and others for allegedly aiding the $7 billion fraud. At issue in the case was...
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