March 30, 2015
The Eleventh Circuit on Monday affirmed a Florida district court's decision to shield the U.S. Securities and Exchange Commission from a negligence lawsuit by two victims of Robert Allen Stanford's $7 billion Ponzi scheme, saying the lower court correctly applied exceptions in the Federal Tort Claims Act.
August 12, 2013
A Florida federal judge on Monday threw out a class action accusing the Securities and Exchange Commission of negligence for failing to report that Robert Allen Stanford’s $7 billion fund was a Ponzi scheme, ruling the regulatory commission was exempt from liability under federal tort law.
February 14, 2013
A Florida federal judge on Thursday allowed limited discovery to begin in a putative class action alleging the U.S. Securities and Exchange Commission should have reported Robert Allen Stanford's bank to a securities industry liquidator after realizing he was running a $7 billion Ponzi scheme.
September 07, 2012
A Florida federal judge ruled Friday that the U.S. Securities and Exchange Commission must face a putative class action alleging it should have reported Robert Allen Stanford's bank to a securities industry liquidator after realizing it was running a $7 billion Ponzi scheme.
December 13, 2011
Two victims of Robert Allen Stanford's alleged $7 billion Ponzi scheme filed a purported class action Tuesday in Florida federal court seeking to hold the U.S. Securities and Exchange Commission responsible for letting the scheme become so massive.