Davis Wright Settles Sunwest Ponzi Scheme Litigation

Law360, New York (October 23, 2009, 6:05 PM EDT) -- Davis Wright Tremaine LLP has resolved all state and federal court claims alleging it played a key part in assisting retirement home operator Sunwest Management Inc., its former client, with running a $400 million Ponzi scheme.

The Oregonian reported Thursday that the firm agreed to pay $30 million to settle securities fraud and malpractice claims arising from the Sunwest scandal.

Michael Grassmueck, the court-appointed receiver for Sunwest and its units in a securities fraud case brought against them by the U.S. Securities and Exchange Commission, said...
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