Aequitas Capital Management

Skip to main content CASES Tipline 1-888-381-2889 Main navigation Cases Attorneys All Attorneys Steve W. Berman, Managing Partner Thomas M. Sobol, Executive Robert B. Carey, Executive France Team U.K. Team Newsroom Press Releases Blog Practices Anti-Terrorism Antitrust Litigation Automotive Litigation Child Sexual Abuse Civil & Human Rights Litigation Class Action Consumer Rights Data Breach, Privacy & Cybersecurity Emissions Litigation Employment Litigation Environmental Litigation First Responder Litigation Governmental Representation High Tech Litigation Intellectual Property Investor Fraud Personal Injury Litigation Pharmaceutical Fraud Sexual Abuse & Harassment Sports Litigation Veterans & Military Servicemember Litigation Whistleblower About About the Firm Firm Story In the Media Our Advantage Contingency Fee Working at Hagens Berman Cycling Teams Success Landmark Cases Victories & Settlements Awards & Recognition Testimonials Contact Contact Us Offices Media Inquiries Careers Aequitas Capital Management Hagens Berman announced settlements totaling $234.6 million reached on behalf of approximately 1,600 investors of the now-defunct Aequitas companies. It is believed to be the largest settlement of a securities lawsuit in Oregon history. Case Status Settled Settlement Value $234.6 Million Position Co-Lead Counsel Attorneys Steve W. Berman Karl Barth Practice AreasInvestor FraudSecurities Court U.S. District Court for the District of Oregon Portland Division Judge Assigned Hon. Marco A. Hernandez Case Number 3:16-cv-00580-AC Defendant(S) Deloitte & Touche EisnerAmper Sidley Austin Tonkon Torp TD Ameritrade Integrity Bank & Trust of Colorado Duff & Phelps Exchange — Stock Symbol — Phone 1-888-381-2889 Email [email protected] Related Documents Motion for Preliminary Approval of Global Settlement 07/09/19 Second Amended Class Action Complaint 09/08/17 In March 2016, Hagens Berman filed a class action lawsuit asserting that various investment funds run by Aequitas Capital Management operated as a Ponzi scheme from 2010 until finally collapsing and being shut down by the SEC. Aequitas sold hundreds of millions of dollars of securities to approximately 1,600 investors and perpetuated the scheme for years, despite generating no profits, being dependent on new investor money, having no prospects for increasing revenues and being insolvent. Defendants in this action are the accounting firms Deloitte & Touche and EisnerAmper; law firms Sidley Austin and Tonkon Torp; TD Ameritrade; Integrity Bank & Trust of Colorado; and Duff & Phelps. On July 9, 2019, Hagens Berman and our co-counsel Stoll Berne announced that settlements totaling $234.6 million had been reached on behalf of members of the proposed class. The settlements are subject to approval by the U.S. District Court in Portland. CASE TIMELINE 2019 Dec 17Settlement ApprovedAn Oregon federal court has signed off on the $234 million settlement, allowing investors to recover 80 to 90% of their losses after the liquidation of the Aequitas estate.Jul 10Settlement UpdateSettlements totaling $234.6 million have been reached on behalf of approximately 1,600 investors in a proposed class action against various third parties alleged to have participated in or materially aided sales of securities by the now-defunct Aequitas companies of Lake Oswego, Oregon.Jul 9Case UpdateOn July 9, 2019, Plaintiffs’ filed an unopposed Motion for Preliminary Approval of Global Settlement. Hagens Berman purchases advertisements on search engines, social media sites and other websites. Transmission of the information contained or available through this website is not intended to create, and receipt does not constitute, an attorney-client relationship. Hagens Berman agrees to protect transmitted information in accordance with our Privacy Policy. This website is informational, not legal advice. If you seek legal advice or representation by Hagens Berman, you must first enter a formal agreement. Past results do not guarantee future outcomes. This site includes attorney advertising and is regulated by the Rules of Professional Conduct (RPC). Press Releases Jul 10, 2019Hagens Berman and Stoll Berne Announce $234.6 Million Settlement of Aequitas Class Action Contact 1-888-381-2889 Locations Email Us Submit a Case Tip EMEA HBSS France Practice Areas Anti-Terrorism Antitrust Litigation Automotive Litigation Child Sexual Abuse Litigation Civil & Human Rights Class Action Consumer Rights Data Breach, Privacy & Cybersecurity Emissions Litigation Employment Litigation Environmental Litigation First Responder Litigation Governmental Representation High Tech Litigation Intellectual Property Investor Fraud Personal Injury Pharmaceutical Fraud Sexual Abuse & Harassment Sports Litigation Veterans & Military Servicemember Litigation Whistleblower The Firm Attorneys Cas