Many lower courts have given the Securities Litigation Uniform Standards Act of 1998 a wide preemptive scope. In those courts, a black-hole-like SLUSA devours all cases that come within a light year of its omnivorous gullet. If a lawsuit said pretty much anything about buying or selling an interest in a company — BAM! Into
Allen Stanford
Allen Stanford Guilty on 13 Fraud Counts; Ponzi-Palooza?
By Barry Barnett on
The NYT reports that a federal jury in Houston today convicted high-yield CD king Allen Stanford on all but one of the 14 fraud counts against him.
Stanford grew up in Mexia, Texas, and got a finance degree from Baylor in Waco. In the 1980s, he moved to Montserrat and later Antigua.
His Stanford Financial…