Snell, Atty Reach $3M Deal In SWX Malpractice Suit

Law360, New York (February 9, 2010, 4:21 PM EST) -- Snell & Wilmer LLP and a partner in its Las Vegas office have struck a $3.1 million settlement to resolve a breach of contract and malpractice suit over their alleged role in the collapse of Southwest Exchange Inc., an intermediary that held real estate investors' profits to help them delay paying taxes.

The plaintiffs — a group that includes investors, SWX and its court-appointed receiver Larry Bertsch — filed a motion for preliminary approval of the settlement in the U.S. District Court for the District of...
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