The New Orleans Times-Picayune (12/6, Samuels, 130K) reports, “Louisiana investors who fell victim to the Stanford Financial Group Ponzi scheme can now join a class action lawsuit in hopes of regaining some money.” According to the Times-Picayune, “19th Judicial District Court Judge R. Michael Caldwell ruled in Baton Rouge Wednesday morning that the “class” in the suit can include any Louisiana resident who purchased one of the Stanford International Bank's certificates of deposit between Jan. 1, 2007 and Feb. 16, 2009, said Phil Preis, an attorney who represents investors in the case.” Also, “anyone who did business with the Stanford Trust, which was licensed in Louisiana, can also be included.”

The Baton Rouge (LA) Advocate (12/6, Lodge, 80K) reports that the investors damaged by Stanford's scheme “now have the option to join the original plaintiffs in seeking judgments against the Louisiana Office of Financial Institutions, or OFI, and the financial services firm of SEI Investments Co.” According to the piece, “yf investors win that suit, OFI and SEI could share liability for as much as $1 billion in losses in Louisiana, according to estimates by their attorneys.”