Seward & Kissel Says Due Diligence Was Client's Job

By William Gorta (July 14, 2017, 10:05 PM EDT) -- Seward & Kissel LLP told a New York federal judge on Friday that its role in helping a client sell his energy efficiency service company did not include due diligence on the financial state of the buyer, ForceField Energy Inc., which was implicated in a $131 million stock manipulation scheme and stiffed the seller.

Jacqueline P. Rubin of Paul Weiss Rifkind Wharton & Garrison LLP, arguing for Seward & Kissel, told U.S. District Judge William H. Pauley III that the malpractice suit brought by Mitchell Barack, former owner of Massachusetts-based ESCO Energy Services Co. Inc., should be tossed because the type...

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