A group of investor clients of Stanford Financial Group has filed a class action against Proskauer Rose and partner Thomas V. Sjoblom. The lawsuit, filed in the U.S. District Court for the Northern District of Texas in Dallas, alleges that the law firm and Sjoblom aided and abetted Stanford Financial's alleged fraud and that it conspired with Stanford Financial. The class action claims that under Texas law Proskauer Rose is liable for the $7 billion in total fraud losses.
August 31, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A group of investor clients of Stanford Financial Group has filed a class action against Proskauer Rose and partner Thomas V. Sjoblom.
The lawsuit, filed Thursday in the U.S. District Court for the Northern District of Texas in Dallas, alleges that the law firm and Sjoblom participated in a massive investment fraud scheme that led to the intervention by the U.S. Securities and Exchange Commission and the appointment of a receiver for the investment firm.
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