[JURIST] The US Court of Appeals for the Fifth Circuit [official website] ruled [opinion, PDF] Monday that victims of the $7 million Ponzi scheme orchestrated by Allen Stanford [BBC profile, JURIST news archive] may pursue a class action lawsuit. Stanford was convicted of defrauding victims in America and in Latin America. Monday's decision overturned a lower court decision that found the lawsuits violated the Securities Litigation Uniform Standards Act (SLUSA) [materials]. District Judge David Godbey had ruled against the suits...

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