Claims Against Law Firm Trimmed In $80M Fraud Scheme

Law360 (July 31, 2020, 9:23 PM EDT) -- A Texas federal judge on Friday trimmed allegations that law firm Scheef & Stone was integral in Christopher Faulkner's alleged $80 million securities fraud scheme and gave the purported scheme's receiver who brought the suit leave to amend the complaint.

Thomas L. Taylor III, the court-appointed receiver tasked with unwinding the alleged $80 million securities fraud scheme, accused Texas-based law firm Scheef & Stone and its partners Roger Crabb and Mitch Little of helping alleged mastermind Faulkner defraud investors.

On Friday, U.S. District Judge Sidney A. Fitzwater granted in part and denied in part Scheef & Stone's motion to dismiss, leaving intact negligence and...

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