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Jay Peak Investor Suit Stayed Pending Related Settlements

Law360, Miami (January 16, 2018, 9:53 PM EST) -- A Florida federal judge on Tuesday stayed an investor class suit against Jay Peak ski resort owner Ariel Quiros over his alleged role in a $350 million EB-5 visa fraud suit, as Quiros' attorneys indicated two pending related settlements could impact the suit.

In a hearing in Miami, U.S. District Judge Federico Moreno stayed the suit for 90 days after Quiros' attorney, Melissa Visconti of Damian & Valori LLP, said Quiros' pending settlement with the U.S. Securities and Exchange Commission — which should be approved soon — and any potential deal with the Quiros estate's receiver could significantly alter the investors'...

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Florida Southern

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Racketeer/Corrupt Organization

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May 3, 2016

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