Stoll Berne Appointed Co-Lead Counsel in Massive GPB Ponzi Scheme Class Action

Stoll Berne was appointed co-lead counsel in a proposed class action pending in the United States District Court in Austin, Texas. The lawsuit asserts that GPB Capital Holdings, LLC partnered with Ascendant Capital, LLC (formerly an Austin, Texas based branch of Axiom Capital Management, Inc.) and Ascendant Alternative Strategies, LLC to perpetrate a nearly $2 billion Ponzi scheme, and that the misconduct was facilitated by auditors and other professionals. Stoll Berne will have primary responsibility for the plaintiffs’ claims against various auditing firms. The court previously dismissed all defendants’ motions to dismiss. 

Stoll Berne attorneys Tim DeJong and Cody Berne are working on the case.