Securities claims continue to intensify against lawyers for their roles in events.
LAW 360 recently posted a story on a suit proceeding against Proskauer in connection with Mr. Stanford’s scams. ("[A] fourth suit revived by the ruling alleges Proskauer attorney Thomas V. Sjoblom and others facilitated the scheme by hampering a U.S. Securities and Exchange Commission investigation into the scheme.")
Another suit is proceeding against Quarles & Brady. ("Aggrieved investors in a company called Radical Bunny LLC contend the company sold unregistered securities to fund Mortgages’ operations and falsely claimed loans it made to the mort were backed by collateral. Mortgages allegedly sold its own stock and separately raised millions through Radical Bunny’s securities sales, U.S. District Judge Frederick J. Martone wrote in his order.")