How They Won It

Receiver's Rare Step Gives Investors New Hope After FBI Raid

By Nathan Hale (May 28, 2021, 2:32 PM EDT) -- Facing a situation unlike any he had ever encountered, a Florida attorney appointed to protect the assets of a software developer that had been raided by the FBI turned to an arcane tool to transform its defrauded investors into shareholders of a new $11 million company.

Although the authorities had left them no funds or even financial records, court-appointed receiver James D. Sallah of Sallah Astarita & Cox and his counsel, Jeff Schneider and Thomas R. Lehman of Levine Kellogg, resisted the more typical path of putting Boca Raton-based Stocket Inc. into bankruptcy and instead took a shot at cultivating some...

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