SLUSA Ruling Re SIB CDs

I have posted below the recent ruling by Judge Godbey that the Stanford class action lawsuit against the sate of Louisiana is barred by the Securities Litigation Uniform Standards Act of 1998 [SLUSA]. His ruling is so broadly written that it is likely it may be used to terminate most of the other Stanford US class action lawsuits. No doubt there will be a vigorous appeal as the US attorneys who have filed all these lawsuits stand to gain hundreds of millions of dollars in contingency fees.

As more than two years have now passed since the demise of Stanford Financial Group it begs the obvious question why all these attorneys did not consider this scenario before collecting vast sums in retainers from the Stanford Victims.

For any Stanford victim who may not be entirely satisfied with their choice of attorney, in case you are not already aware, you also have a choice, and that is to take your representation elsewhere. All you need do is to request your attorney transfer your file, and your retainer, to any other attorney of your choice. The choice is yours.

Slusa Ruling Re Sib Cds