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Baxter Baker Attorneys reach settlement for client in Federal Securities Fraud case.

Baxter Baker attorneys Gary R. Jones and Danielle M. Vranian successfully obtained a settlement on behalf of a defrauded investor who invested in a Maryland telecommunications company startup pursuant to a private placement in 2016.

Baxter Baker attorneys filed suit in the United States District Court in Baltimore against the defendant corporation and its majority owner under federal securities laws and for securities fraud under the Maryland Securities Act, also known as the “ Blue Sky Law “.

In addition to the full return of the clients investment, the client was able to use provisions of Maryland’s Blue Sky Law to obtain payment of pre- judgment interest and a large portion of attorney’s fees repaid to the defrauded investor. This was a significant victory as pre-judgment interest and attorney’s fees are not routinely awarded under Maryland law.