Split En Banc 5th Circuit Affirms Class Certification In Pyramid Scheme Suit
Mealey's (October 4, 2016, 2:00 PM EDT) -- NEW ORLEANS — A sharply divided en banc Fifth Circuit U.S. Court of Appeals on Sept. 30 affirmed certification of a class of individuals who signed up to sell utility contracts to others but now seek to recover the money they lost, alleging that they were part of a fraudulent pyramid scheme (Juan Ramon Torres, et al. v. S.G.E. Management, L.L.C., et al., No. 14-20128, 5th Cir.; 2016 U.S. App. LEXIS 17746).
(Opinion available. Document #43-161007-026Z.)
Stream Energy sells gas and electricity to customers in Texas,...