2nd Circ. Upholds Sanctions For Firm In Securities Action

Law360, New York (September 30, 2013, 5:48 PM EDT) -- The Second Circuit upheld a sanctions order Friday against New York-based Nachamie Spizz Cohen & Serchuk PC over a deficient amended complaint filed in a securities fraud suit against a data and security company, rejecting the firm’s argument that it was due to a rogue lawyer.

In a summary order, a three-judge panel for the appeals court found that Nachamie hasn’t established that its former attorney Richard Ciacci was acting in a rogue fashion since the firm doesn’t allege that Ciacci altered a firm-approved pleading or...
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