In the two weeks since this action against the SEC for full recovery of losses was announced, more than 2,000 Stanford investors have received information packs, providing details of the claim, the attorney, and the procedure.
We have seen a tremendous response, despite the difficulties of communicating during the festive season, and we have not even gone public yet.
Many investors have already signed-up, and the campaign is gaining momentum by the day.
If you are an investor who was swindled by Stanford, please take the time to read the supporting information on this blog, or contact the attorney direct: Kachroo legal Services, of Cambridge, Mass
Phone number : 617-864-0755 Email : info@kachroolegal.com
This action is open to all the Stanford investors, irrespective of Nationality, domicile, or the Stanford entity to which they entrusted their investment, but please be aware, all claims must be registered under the Federal Tort Claims Act by February 16th 2011.
For any investor who has only recently become aware of this action, these are the headline issues:
As this is an action against the US Government, it cannot be a class-action in the normal sense. Only the investors who have joined-in and filed a claim with the SEC under the Federal Tort Claims Act can be included. No other victims will be able to join-in later.
After the statute of limitations expires (which we believe will be on February 16th 2011), unless investors have already registered and their claims have been submitted, they will be barred from suing the US Government and the SEC should they decide to do so.
Kachroo Legal Services, P.C. must prepare a separate claim for each investor account into Stanford in advance of filing any action on our behalf. This will obviously take some time, and clearly time is of the essence. We should each decide whether to sign-up sooner rather than later.
The fees are explained in KLS letter of engagement, but in brief; there is a registration fee, on a sliding scale from $500 to $1500 per investor, commensurate with the level of investment, with no limit to the number of accounts per investor. This registration fee is to finance the cost of the claims process and create a reserve for any actual litigation. There will also be a contingency fee of 15%, plus reasonable expenses (not exceeding 20% of any fees), due from the recovery, if any litigation commenced is successful.
Please contact the attorney to receive your letter of engagement now.
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