Securities Arbitration Lawyers BlogPlot Thickens in Aequitas Saga; Investors File Suit Against Tonkon Torp, Deloitte
Aequitas Capital Management investors filed a class action lawsuit on April 4, 2016 against Portland law firms Tonkon Torp and Sidley Austin and the accounting firms Deloitte & Touche and EisnerAmper, claiming the firms enabled the massive Ponzi scheme.
The April complaint (the “Complaint”) has been brought on the heels of a complaint the Securities and Exchange Commission (“SEC”) filed against Oregon-based Aequitas and its principals in March. Silver Law Group is currently investigating claims against Aequitas and Registered Investment Advisor (“RIAs”) firms with respect to possible violations of federal securities.
The Complaint alleges that the aforementioned firms are responsible to pay for the investors losses because they aided in the unlawful sales of Aequitas securities after Aequitas made numerous “extensive and pervasive” misrepresentations.