A trial for a five-party lawsuit involving the sale of SBM investment certificates has been stayed in Brown County District Court.
In an order filed the week of Aug. 19, Judge Robert A. Docherty granted the defendants request of a stay of proceedings until the SBM bankruptcy case is settled.
Earlier this month, Docherty took the case under advisement after a motion hearing on Aug. 12 requested by David Baugh, attorney representing Laurie A. Braulick. Baugh requested a stay of proceedings until the SBM bankruptcy case is settled.
Baugh said he is pleased with the judge’s decision.
“We think this is recognition by the courts that the primary cause of investor losses was because of the events that occurred within SBM and the bankruptcy proceedings,” he said. “My clients had no reason to have known of any impropriety of these events. My clients deny the allegations against them and we will continue to vigorously defend that status.”