Woodbridge Trustee Sues Sidley, 9 Other Firms For $500M

Law360 (December 3, 2019, 8:50 PM EST) -- The liquidation trust for the defunct Woodbridge Group is seeking more than $500 million in damages from Sidley Austin LLP and nine other law firms accused of aiding the real estate investment enterprise's $1.3 billion Ponzi scheme.

Michael Goldberg, as trustee of the Woodbridge Liquidation Trust, filed a suit in California state court on Monday that accuses the firms and their attorneys of a variety of misdeeds related to the five-year scheme, for which Woodbridge's former owner and CEO was sentenced to 25 years in prison in October.

Some drafted untruthful offering documents, others helped former CEO Robert H. Shapiro conceal...

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