Proskauer Targeted in Class Action Over Handling of Stanford Financial
A group of investor clients of Stanford Financial Group has filed a class action against Proskauer Rose and partner Thomas V. Sjoblom. The lawsuit, filed in the U.S. District Court for the Northern District of Texas in Dallas, alleges that the law firm and Sjoblom aided and abetted Stanford Financial's alleged fraud and that it conspired with Stanford Financial. The class action claims that under Texas law Proskauer Rose is liable for the $7 billion in total fraud losses.
