Deals
Stanford, BNP, Madoff, HSBC, Glaxo, Galleon in Court News
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The U.S. Securities and Exchange Commission was sued by eight of R. Allen Stanford’s investors, who claim regulators’ “negligence and misconduct” caused their losses.
U.S. securities regulators seized Stanford’s operations in February 2009 on suspicion of fraud. Investors who purchased certificates of deposit at the financier’s Antigua-based Stanford International Bank Ltd. lost more than $7 billion, according to a lawsuit filed by the SEC.