A federal court judge in Iowa has granted a stay in Aviva Life and Annuity Company’s civil lawsuit against three former Dewey & LeBoeuf executives for allegedly making false and misleading statements as part of a 2010 bond offering.
The judge also allowed the defendants—former chairman Steven Davis, former executive director Stephen DiCarmine and former chief financial officer Joel Sanders—to ask the U.S. Court of Appeals for the Eighth Circuit to hear an interlocutory appeal of his May 19 decision denying their motion to dismiss the case on grounds that the insurance company has no standing because it sold off the bonds and claims that are at the center of the case.
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