LexisNexis® Legal Newsroom
Ponzi Scheme Victims and SLUSA: The Supreme Court to Decide What Claims Can Proceed

Defrauded investors in a Ponzi scheme have a few choices when the scheme goes bust. They can wait for a distribution from the insolvency proceeding, or they can take matters into their own hands and form a class to sue third parties for their damages. However, the Securities Litigation Uniform Standards...

Hopelessly Confused SLUSA Issues for Ponzi Scheme Victims Following Troice?

As reported in The Ponzi Scheme Blog , the Supreme Court recently issued an important decision further defining the boundaries of SLUSA – the Securities Litigation Uniform Standards Act of 1998. Chadbourne & Park LLP v. Troice , 2014 U.S. LEXIS 1644 (Feb. 26, 2014) [ an enhanced version of...

Did the Second Circuit Get SLUSA Right in the Madoff Ponzi Scheme Case?

In a very short and summary opinion, the Second Circuit concluded that nothing in a recent Supreme Court decision gave it any reason to revisit its prior ruling that SLUSA bars state law class action claims against banks in connection with the Bernard Madoff scheme. In re Herald, Primeo, and Thema ,...