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Texas State Securities Board Issues Consent Order Against SEC Investment Adviser
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Vida Longevity Investors Represented by Goldman Scarlato & Penny Attorneys File Suit Against Vida Companies, Affiliates, and Former Executive
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HOUSTON A former ELD Holdings employee claims she was terminated for no reason and denied the eligible company shares according to her compensation package.
Cherry Wilkins filed a complaint March 10 in Harris County District Court against ELD Holdings Inc. and Efrain Davis, Jr., alleging breach of fiduciary duty, fraud, violation of the Texas Securities Act, negligence and other claims.
According to Wilkins complaint, during her employment with ELD, Davis, the company s manager, director and majority owner, transferred ELD shares to her as part of her compensation package. She claims ELD terminated her employment in August of 2020 without cause and failed to give her the full portion of shares she was entitled.
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5th Circ. Told To Allow Stanford Ponzi Victims Into Suit
Law360 (October 7, 2020, 10:45 PM EDT) The Fifth Circuit was told it should undo a lower court s ruling and allow 147 duped investors to intervene in a lawsuit seeking monetary damages from banks that facilitated R. Allen Stanford s Ponzi scheme because the Official Stanford Investors Committee doesn t have standing to pursue their Texas Securities Act claims.
Circuit Judge E. Eugene Davis repeatedly asked attorneys for both sides to explain how the court s 2019 ruling in Zacarias v. Stanford International Bank should factor into its decision here. In that case, the court upheld receiver settlements against two insurance brokers for a combined $133 million, rejecting arguments from investor.