Category KLS

KLS Stanford Update – SEC Litigation

By KACHROO LEGAL SERVICES, P.C. In our last update, we notified you that the magistrate judge in our SEC class action denied the Government’s request to stay all discovery. We are summarizing here the outcome of the discovery hearing which was held in Miami on February 14, 2013. One of the key hurdles to overcome […]

ORDER GRANTING IN PART AND DENYING IN PART DEFENDANT’S MOTION TO DISMISS

By Dr. Gaytri D. Kachroo THIS MATTER is before the Court on the Defendant’s Motion to Dismiss the Complaint pursuant to Federal Rule of Civil Procedure 12(b)(1) (ECF No. 12). For the reasons explained in this Order, the Motion to Dismiss is granted in part and denied in part. A. The Plaintiffs Have Adequately Alleged That The […]

Opposition to the USA’s motion to dismiss the complaint

By Dr. Gaytri D. Kachroo Plaintiffs hereby oppose the United States of America’s Motion to Dismiss the Complaint (the “Motion”). This Court has subject matter jurisdiction over this action because the government fails to demonstrate that the discretionary function exception shields from liability the Securities and Exchange Commission’s (“SEC”) negligent failure to follow statutorily prescribed […]

KLS complaint against the U.S. Government/SEC

By Dr. Gaytri D. Kachroo Ft. Lauderdale, FLA – A class action lawsuit was filed against the United States on December 13, 2011, for the billions in losses suffered by investors in the Allen Stanford international Ponzi scheme. The case, filed in the United States District Court for the Southern District of Florida seeks to hold the […]

Consolidated Reply to Responses by SEC and Co.

By KACHROO LEGAL SERVICES, P.C. No one has disputed in their oppositions that the Investor Committee lacks a majority of independent and disinterested investors, which is necessary to adequately represent the interests of investors. To the contrary, the Investor Committee admits that three of its non-investor attorney members have substantial contingency fee agreements with the […]

Chasing Madoff

By Kachroo Legal Services, P.C. “KLS is proud to present the Fox Hounds’ documentary feature film to be released in the US in late August, 2011. Please check it out at a theatre near you. It is a substantive and educational review of Wall Street, underscoring the profound need for financial reform and ethics in […]

Response and Objection to the KLS Motion to Intervene

The Motion to Intervene filed by the KLS Stanford Victims should be denied. While styled as a Motion to Intervene (and for the appointement of four additional Stanford investors to the Committee), the Motion is little more than an attempt by one lawyer – Gaytri Kachroo (“Kachroo”) – to belatedly insert herself into these proceedings, […]

SEC Inspector General to Investigate Stanford Texas Receivership

By KACHROO LEGAL SERVICES, P.C. We have learned today that SEC Inspector General David Kotz will begin an investigation of the Texas Receivership of Allen Stanford, pursuant to a request by Kachroo Legal Services, P.C. The request by Kachroo Legal Services, P.C. to initiate an investigation attached the recently filedMotion to Intervene and Declaration based on […]

Stanford Investors Sue SEC for Losses in Alleged Swindle

The U.S. Securities and Exchange Commission was sued by eight of indicted financier R. Allen Stanford’s investors, who claim regulators’ negligence and misconduct caused their losses. The investors, in a lawsuit filed yesterday in federal court in Dallas, said regulators should have investigated Stanford earlier and detected what the agency later concluded was a “massive” Ponzi scheme. […]

The US government can be sued on account of the fantastic negligence of the SEC

Information, as expected, has been coming out, even if slowly. Inparticular, excellent sources of information and ideas seem to include the SEC Inspector General’s two Reports on the Madoff case; the IG’s two reports on the all too analogous Stanford scam; and complaints, among others, filed against J.P. Morgan Chase, against a money manager, now […]