Five law firms are among more than a dozen parties that have agreed to pay $109 million to settle investment fraud suits pending in federal court in Portland, Ore.
The settlement, which was mediated by 9th U.S. Circuit Court of Appeals Senior Judge Edward Leavy, was announced May 14 by the lead plaintiff’s firm, Portland-based Bullivant Houser Bailey. The case stems from alleged fraud committed by Capital Consultants LLC, a Portland investment management firm that was accused of losing nearly $500 million invested by employer pension and health benefit trusts, as well as individual investors.
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