Proskauer Rose has agreed to pay $63 million to resolve a lawsuit over the firm’s past work for now-convicted Ponzi schemer R. Allen Stanford.

Settlement papers filed in Dallas federal court on Aug. 24 showed that Proskauer reached a deal with the court-appointed receiver in charge of winding down Stanford Financial Group—a collection of companies used by Stanford to commit a yearslong, $7 billion fraud. The settlement would also resolve claims against Proskauer from the Official Stanford Investors Committee, or OSIC, which represents the interests of people who held certificates of deposit or other investments with Stanford Financial.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]