Sheppard Mullin Sued Over Hedge Fund Failure

Law360, New York (August 4, 2011, 2:04 PM EDT) -- The liquidator of Monarch Pointe Fund Ltd. on Tuesday filed a malpractice suit in California against Sheppard Mullin Richter & Hampton LLP in connection with the offshore hedge fund’s collapse in 2008.

Sheppard Mullin’s David Ulich represented Monarch Pointe from its inception in 2004 until its demise, and failed to provide proper counsel while charging the fund top dollar for legal services, according to the complaint.

“During the course of the legal representation ... the defendants ... negligently, carelessly, recklessly or in some other actionable manner...
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