Seyfarth Sued Again Over Brazilian Tax Shelters

Law360, New York (May 22, 2013, 3:33 PM EDT) -- A Texas couple on Tuesday hit Seyfarth Shaw LLP with another derivative malpractice lawsuit tied to junk Brazilian tax shelters, alleging in Illinois state court that the firm knowingly misrepresented U.S. tax benefits of shelter schemes while reaping exorbitant fees from their clients.

Using the firm's prestige and resources, Seyfarth, its former partner John E. Rogers and tax adviser Thomas J. Agresti wrongfully marketed tax shelter schemes in which consumers bought up distressed Brazilian debt to offset U.S. tax obligations, according to the complaint. They targeted...
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