Kaye Scholer Settles Claims Over $6M VesCor Fees

Law360, New York (December 21, 2011, 6:25 PM EST) -- Kaye Scholer LLP on Tuesday settled claims that it improperly received $5.7 million in fees taken from investor funds for representing Utah-based Ponzi schemer and former VesCor Capital Corp. principal Val E. Southwick.

U.S. District Judge Dee Benson approved the settlement agreement between Kaye Scholer and VesCor receiver Robert G. Wing. No details of the settlement were released.

Wing sued Kaye Scholer in April 2009, seeking the return of almost $5.7 million, saying the money was fraudulently received and retained by the firm.

The suit had...
To view the full article, register now.