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Defendants Seek Dismissal In Stanford Ponzi Scheme-Related Case

(November 13, 2015, 12:23 PM EST) -- DALLAS — Defendants in a securities fraud lawsuit stemming from the massive Ponzi scheme operated by R. Allan Stanford recently asked a federal judge in Texas to dismiss a complaint filed by former clients of Stanford’s investment company because the defendants are “stateless” parties and not subject to federal jurisdiction (ARCA Investments, et al. v. Proskauer Rose LLP, et al., No. 15-2423, N.D. Texas).

Twenty-two former clients of Stanford Financial Group (SFG) sued law firms Proskauer Rose and Chadbourne & Parke, as well as attorneys Thomas...
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