Harrison M. Rosenthal and Stephen R. McAllister of Dentons and Todd Carroll and Kevin A. Hall of Womble Bond Dickinson have stepped in to represent New Direction IRA Inc. and New Direction Trust Co. in a pending class action. The complaint, filed Oct. 30 in Kansas District Court by Foulston Siefkin, centers on a lawsuit filed last year by the Commodity Futures Trading Commission accusing third party First State Depository and its owner Robert Higgins of misappropriating over $110 million in precious metals which had supposedly been stored and insured on behalf of New Direction account holders. The suit contends that $78 million in assets are still unaccounted for. The case, assigned to U.S. District Judge John W. Broomes, is 2:23-cv-02477, Theriault et al v. New Direction IRA, Inc. et al.
Government
December 14, 2023, 10:36 AM