Thursday, April 18, 2019

Fifth Circuit Affirms the Cowles and Thompson Defense of Greenberg Traurig

On April 17, 2019, the Fifth Circuit affirmed the judgment obtained by Cowles and Thompson that dismissed claims against our client Greenberg Traurig (GT) by former investors of the Robert Allen Stanford $7 billion Ponzi scheme.  The former investors alleged that GT should be liable for Stanford’s frauds even though it didn’t know about the fraud or knowingly assist it.  GT argued that it could not be sued by non-clients for actions it took as lawyers in representing a client.  Judge Godbey agreed and granted a take-nothing judgment as to the investors.  His ruling was unanimously affirmed by the Fifth Circuit.
Cowles and Thompson attorneys Jim Cowles, Mike Northrup, Sim Israeloff, Chuck Green, and Auston Cherry are part of the team engaged to represent Greenberg Traurig.
For details, see the Law360 article, and American Lawyer/ article.

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