ECC Pins Firms For Malpractice In Bear Stearns Deal

Law360, New York (January 13, 2010, 3:28 PM EST) -- Coming off a $15 million settlement with Bear Stearns Cos. Inc. over the sale of its mortgage origination business, ECC Capital Corp. has filed a lawsuit against Latham & Watkins LLP and Manatt Phelps & Phillips LLP, the two law firms that advised it in the deal.

In a lawsuit filed Friday in Los Angeles Superior Court, ECC Capital says that the two law firms incompetently prepared documents concerning the $26 million sale, leaving ECC Capital open to risk and prompting more than two years of...
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