Judge Presses Nixon Peabody To Settle NewPoint Suit

Law360, Los Angeles (August 27, 2012, 6:11 PM EDT) -- A California federal judge told Nixon Peabody LLP on Monday that he is unlikely to dismiss a lawsuit accusing the law firm of professional negligence related to a $20 million Ponzi scheme run by the convicted head of onetime-client NewPoint Financial Services Inc., saying it should pursue a settlement.

"I don't think this case is probably going anywhere on [Nixon Peabody's motion to dismiss], but I'll take another look at your arguments," U.S. District Judge Dean D. Pregerson told the firm's attorney Russell Ryan of King...
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