A case stemming from Allen Stanford's spectacular $7 billion fraud will be argued before the U.S. Supreme Court on the first day of the fall term. But law firms won't be watching to learn more details about Stanford's Ponzi scheme. Instead, they fret that the outcome could expose fraudsters' law firms to billions of dollars of liability in securities class actions in state courts.
Case Could Expose Law Firms to Liability for Frauds
September 10, 2013