HubsStanford Receiver Wins $50 Million Jury Verdict in First Breach of Fiduciary Duty Case Against Stanford Insider
After deliberating for less than three hours, the seven-member jury found that Maldonado owed fiduciary duties to SIBL and breached those duties. The jury also found that Maldonado was not entitled to the protection of the business judgment rule. Finally, the jury concluded that Maldonado’s breaches of duty caused $50 million in damages to SIBL. This was the Receiver’s first civil trial for breach of fiduciary duty arising from the Stanford Ponzi scheme.
The Baker Botts trial team comprised:
Scott Powers (Partner, Austin); Ryan Bangert (Partner, Dallas); Stephanie Cagniart (Associate, Austin); Maddy Dwertman (Associate, Austin); Ari Cuenin (Associate, Dallas); Ellen Reeder (Paralegal, Austin); Elaina Stephenson (Paralegal Clerk, Austin).
Partner, Kevin Sadler (Palo Alto) serves as lead counsel to the Receiver.
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