5th Circ. Won't Let Stanford Investors Pursue $80M Suit

By Kurt Orzeck (September 16, 2015, 7:57 PM EDT) -- The Fifth Circuit on Wednesday refused to allow a group of Stanford International Bank Ltd. investors to advance their suits seeking $80 million in damages from the insurance brokers and a trust company they say helped Stanford perpetrate a $7 billion Ponzi scheme.

Affirming a district court's September 2014 decision, a three-judge panel ruled that U.S. District Judge David C. Godbey didn't abuse his discretion in declining to lift a stay on the litigation.

Judge Godbey froze Robert Allen Stanford's personal assets in February 2009 and put the bank and its affiliated entities into receivership after the U.S. Securities and Exchange...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!