Convicted Ponzi scheme promoter R. Allen Stanford is three years into a 110-year prison term. Meanwhile, four of his former law firms—Proskauer Rose, Chadbourne & Parke, Greenberg Traurig and Hunton & Williams—are still fighting claims that they helped facilitate Stanford’s fraud. A federal district judge in Dallas has allowed the second of two investor lawsuits against former Stanford counsel to continue.
On June 23, U.S. District Judge David Godbey declined to dismiss most of the claims against Proskauer, Chadbourne, and one of the firms’ former attorneys that were filed by Ralph Janvey, a court-appointed receiver for Stanford investors, as well as claims brought directly by investors who were sold $7 billion in fraudulent certificates of deposit. The surviving claims against the firms and the lawyer, Thomas Sjoblom, include malpractice, negligence and civil conspiracy.
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