Supreme Court to hear case involving Ponzi-scheme lawsuits

01/21/2013 | Washington Post, The

The Supreme Court will consider whether class-action lawsuits stemming from Allen Stanford's Ponzi scheme should be allowed to move forward. Investors who lost money in the scheme have sued entities that they allege helped perpetrate the fraud, but defendants say the Securities Litigation Uniform Standards Act should block the lawsuits. The suits were originally thrown out by a federal judge, but an appeals court disagreed with that decision.

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