Wextrust Investors Blocked From SEC Fraud Suit

Law360 (February 3, 2009, 12:00 AM EST) -- Investors with millions bound up in Wextrust Capital LLC commodity pools have been prevented from intervening in the federal securities receivership case against the company in the hope of freeing their investments as the prosecution of the alleged Ponzi scheme progresses.

Judge Denny Chin of the U.S. District Court for the Southern District of New York blocked the bid by several Wextrust commodity pool investors to horn in on the action, holding that the appointed receiver and the U.S. Securities Exchange Commission adequately represent their interests....
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.