Stoll Berne Aids Investors in Aequitas Victory
Stoll Berne, representing Aequitas investors, overcame joint motions for dismissal filed in June 2016 in a major securities lawsuit against Deloitte & Touche, EisnerAmper, Sidley Austin, Tonkon Torp, TD Ameritrade and Integrity Bank & Trust. The lawsuit seeks class action status for Aequitas investors, who collectively lost hundreds of millions of dollars in the spectacular collapse of Aequitas in 2016.
Federal Judge John Acosta’s ruling stated that investors “adequately allege that Deloitte, EisnerAmper, Tonkon, Sidley, Integrity, and Ameritrade participated in or materially aided some securities transaction by Aequitas entities.” The judge did not dismiss any defendant from the case. Under Oregon law, as participants and material aiders, the defendants are liable to the same extent as Aequitas for Aequitas’ violations of the Oregon Securities Law.
March 24, 2017: Portland Business Journal, Aequitas Investors Celebrate Major Victory