Stoll Berne Defeats Motions to Dismiss Aequitas Securities Class Action

August 2, 2018

Stoll Berne represents plaintiffs-investors in Ciuffitelli et al. v. Deloitte & Touche LLP, et al., No. 3:16-cv-00580-AC (U.S. District Court, Oregon). Plaintiffs seek to represent a class of investors in securities issues by Aequitas. On August 1, 2018, defendants’ motions to dismiss were denied. The court upheld plaintiffs’ claims against Deloitte & Touche, the Sidley Austin law firm, TD Ameritrade, Duff & Phelps, EisnerAmper, and Integrity Bank. This significant ruling is a substantial step toward recovering hundreds of millions of dollars for investors, in perhaps the biggest securities fraud in Oregon history. Stoll Berne previously secured a substantial settlement with defendant Tonkon Torp. That settlement is before the court for approval. Stoll Berne attorneys Tim DeJong, Keith Ketterling, Jen Wagner, Jacob Gill, and Nadia Dahab are counsel for the plaintiffs.

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