Holliday had asked the court to dismiss the lawsuit, which seek to recover $750,000 the trio claims they lost in bogus certificate of deposit purchases through Stanford.
Nov. 30, Burns dismissed Holliday's motions, saying the plaintiffs' claims aren't related to a Texas federal receivership of Stanford assets and that they aren't bound to go to arbitration because their contract never was signed, as required, by a third Stanford Group party.
A similar lawsuit against Stanford ex-adviser Neal Clement by Tupeloan Walt Walton, seeking return of $430,183 CD investments, also asserts Walton isn't bound to arbitration for the same reason.
The Walton case is before Chancellor Jacqueline Mask, who hasn't ruled on Clement's defense motions.
In U.S. District Court in Aberdeen, two lawsuits against former Stanford broker-adviser David Haggard of Georgia got notice Wednesday that he's filed for bankruptcy.
U.S. District Judge Sharion Aycock dismissed one lawsuit against him by the Paschal family, seeking $26.8 million of losses in Stanford CDs.
But the case can be reopened, if Aycock considers that action appropriate, the dismissal order says.
The second case, by the Jackson-area brothers Chris and Mark Shapley, seeks return of $3.25 million in investment losses from Haggard. The Shapleys also were notified of the bankruptcy filing although no other action has occurred about their lawsuit, according to the court's data system.
Numerous Stanford investors have sued their financial advisers because top company executives' and corporate assets were frozen by a federal civil lawsuit.
Stanford holdings collapsed earlier this year with a Securities and Exchange Commission investigation into its Antigua bank.
Federal criminal charges also are pending against ex-CEO Allen Stanford and others in Texas.