U.S. District Judge David Godbey in Dallas ruled that the court-appointed receiver over the collapsed Stanford financial empire was the only one who could proceed to reclaim losses, at the moment, from the ex-employees.
Late last week, the Paschal family and its lumber business of Eupora and Brandon filed notice they had dismissed their $26.8 million claims against former adviser David Haggard of Georgia.
Brothers Chris and Mark Shapley of the Jackson area also dismissed their $3.25 million claim against Haggard.
All the plaintiffs claimed they lost their investments in Stanford certificates of deposit through the Stanford International Bank Ltd., based in Antigua.
Their attorney, Charles L. McBride Jr. of Jackson, was not available for comment.
The Stanford companies collapsed a year ago under the weight of an investigation by the U.S. Securities and Exchange Commission.
CEO Allen Stanford and four executives, plus an Antiguan regulator, were indicted by a federal grand jury on allegations they masterminded a $7.2 billion Ponzi scheme on CD purchasers.
They pleaded not guilty and await 2011 trial, except for CFO James M. Davis of Baldwyn, who pleaded guilty, and the regulator, who has yet to be extradited to the U.S.
Contact Patsy Brumfield at (662) 678-1596 or firstname.lastname@example.org.