Texas Leading Multi-State Lawsuit Against Delaware
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WASHINGTON (CBSDFW.COM) - Texas is leading a multi-state lawsuit against another state. From the steps of the U.S. Supreme Court on Thursday morning, Attorney General Ken Paxton announced the suit, explaining that hundreds of millions of dollars are at stake here, and 20 other states are on board.
Paxton is joining with Arkansas in leading the charge against Delaware.
When there is an unclaimed money order or travelers check, Paxton said that the cash must be surrendered to the state where it was purchased, according to law. However, Paxton added, Delaware has been claiming that money for years if the financial company is based there.
This all adds up to potentially $10 million lost for Texas alone.
Paxton also explained why he targeting Delaware and not the companies involved. "Delaware has our money. They've had our money over the last several years. They've kept our money," the attorney general said. "Delaware has our money. The business itself doesn't have our money."
If every state joined the lawsuit, Paxton added, the amount owed could be as high as $400 million. The other states currently included in the lawsuit are: Alabama, Arizona, Colorado, Florida, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Montana, Nebraska, Nevada, North Dakota, Ohio, Oklahoma, South Carolina, Utah and West Virginia.