Lillie, et. al. v. Stanford Trust Company and the State of Louisiana through the Office of Financial Institutions
Docket # C- 581670, Nineteenth Judicial District Court, Parish of East Baton Rouge, State of Louisiana
The Honorable Donald R. Johnson presiding.
November 4, 2024: Class Counsel filed the Proposed Written Reasons on October 29, 2024. Judge Johnson denied the Motion for New Trial in a Minute Entry.
August 30, 2024: Class Counsel filed a Motion for New Trial on August 26, 2024. Please click here to review the Motion for New Trial and the Memorandum in Support of a New Trial. The briefs reference the Travis Three OFI Policy Directives, which you can review by clicking on Ex. 1169, Ex. 1067, and Ex. 132. Judge Johnson has set the Motion for New Trial for hearing on October 22, 2024.
********************************************************
August 9, 2024: The Class Action occurred in Baton Rouge, Louisiana beginning on July 23, 2024 and concluded on August 9, 2024. The jury found that the State of Louisiana through the Office of Financial Institutions owed a duty to Plaintiffs, but that the Office of Financial Institutions had not acted recklessly. Please click here for a statement from Phillip W. Preis, Class Counsel, dated August 10, 2024.
*************************************************************
This Class Action was filed on August 20, 2009. The Class was certified by the State District Court as a class action on December 17, 2012. The Case is currently set to be heard by a jury in a trial beginning July 23, 2024.
The “Class,” as certified by the Court, consists of:
(i.) persons who purchased SIB CDs in Louisiana between January 1, 2007, and February 13, 2009;
(ii.) persons who renewed any SIB CD in Louisiana between January 1, 2007 and February 13, 2009; or
(iii.) any person for whom the Stanford Trust purchased SIB CDs in Louisiana between January 1, 2007 and February 13, 2009.