Sidley, Deloitte Among Firms Settling Claims Over Aequitas Scheme

Law firm Sidley Austin and accounting giant Deloitte were among professional services firms that reached a proposed $234 million settlement July 10 in a class-action case alleging links to Aequitas Securities LLC’s “Ponzi-like” scheme.

Three other defendants were part of the settlement that a plaintiff’s firm said is the largest ever for a securities lawsuit in Oregon. The agreement still must receive court approval.

Audit firm EisnerAmper LLP, TD Ameritrade Inc. and consultancy Duff & Phelps were also among the defendants in the settlement. Another law firm, Tonkon Torp LLP, reached a separate settlement earlier this year for $12.9 million. ...