An Update from Our Firm about COVID-19

Abraham, Watkins, Nichols, Sorrels, Agosto, Aziz & Stogner remains fully operational and committed to serving our clients and colleagues throughout the Coronavirus (COVID-19) crisis. As we follow the CDC guidelines and practice social distancing, we remain available for phone consultations and scheduled in-person meetings with both current and prospective clients and colleagues. Please contact our office by email or by calling 713-222-7211 with any questions. We look forward to hearing from you.

Stanford Financial Group Sued by Firm

Stanford International Bank, Ltd. (SIB) was one of several entities within the Stanford Financial Group (SFG). SIB issued Certificates of Deposit to those seeking a safe investment and a dependable return. However, the opposite occurred. Recently, at the request of the Securities and Exchange Commission, a federal court in Dallas appointed a receiver to take over the assets of the organization. Investors are left without payments and wondering what to do.

On Monday, February 23, 2009, Abraham, Watkins, Nichols, Sorrels & Friend filed suit in Harris County, Texas seeking to protect and enforce the rights of four specific investors. The case was assigned to Judge Sylvia Matthews in the 281st District Court. On Tuesday, the firm filed an amended petition adding two more investors as plaintiffs in the suit. The defendants in the case include SIB, SFG, Stanford Capital Management, LLC, Stanford Venture Capital Holdings, Inc., Stanford Group Holdings, Inc., R. Allen Stanford, James M. Davis, D. Mark Tidwell, Laura Pendergest-Holt, Michael Zarich, and Jay Comeaux. The suit papers allege that the Stanford companies and executives represented that the CDs were "a safe investment and that SIB invests the funds primarily in liquid investments." The plaintiffs purchased the CDs based on those representations; now, they cannot obtain any of their funds. The suit also alleges breach of fiduciary duty on the part of the defendants. It seeks unspecified damages, attorney's fees, exemplary damages, and rescission.

The firm has previously sued Stanford, and has taken the depositions of several of its executives. This will assist us to understand the organizational structure and personalities involved in this fraud as we prosecute claims against Stanford on behalf of the investors. It is our plan to aggressively protect the investments of our clients.

No Comments

Leave a comment
Comment Information
  • $50+ Million Fire & Explosion

    The firm successfully represented nearly 100 victims who suffered personal injuries and damages to property from a large fire and explosion resulting in a settlement of more than $50 million. The firm served as lead lawyers on the steering committee in this litigation.

  • $80 Million Plant Explosion

    The firm successfully represented 270 plaintiffs, taking a lead role in the plaintiffs’ steering committee, who suffered injuries in a large plant explosion resulting in a settlement of nearly $80 million.

  • $50+ Million Plant Fire & Explosion

    The firm successfully represented 45 personal injury victims in a plant fire and explosion, serving on the plaintiffs steering committee, concluding with a settlement of more than $50 million.

  • $22+ Million Worksite Accident

    The firm prevailed in a personal injury trial for a worksite injury client with the jury returning a verdict and resulting in a judgment of over $22 million for the firm’s client.

  • $12 Million 18-Wheeler Collision

    The firm successfully achieved a $12 million settlement for the family of a man who died in an 18 wheeler collision.

  • $48 Million Catastrophic Burns

    The firm prevailed on behalf of three burn victims with settlements totaling nearly $48 million.

Our Record Of Success

When you are hurt and you choose a law firm to represent you in court or at the negotiation table, you need to carefully consider the firm's record.

Read More Success Stories

Let Us Help You Request a Free Consultation Today

Get Help Now

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Back to top