Accounting Firm Aided $5M BofA MDL Fund Theft: Suit

Law360, New York (February 9, 2011, 3:34 PM EST) -- Heffler Radetich & Saitta LLP has been accused of allowing an employee to steal $5 million from a $490 million settlement fund it oversees related to a multidistrict securities litigation over Bank of America Corp.'s merger with NationsBank Corp.

Plaintiff David Oetting, a representative of the NationsBank MDL class, sued the accounting firm for breach of fiduciary duty and accountant malpractice Tuesday in the U.S. District Court for the Eastern District of Missouri. Oetting seeks to represent the MDL class in pursuing the stolen funds from...
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