Fox Rothschild, DLA Accused Of Letting Ponzi Scheme Fester
Law360 (September 28, 2020, 7:08 PM EDT) -- The receiver appointed to represent investors in a Florida real estate company facing allegations of operating as a $170 million Ponzi scheme sued a DLA Piper attorney, his firm and Fox Rothschild LLP in California federal court on Monday over their purported roles in the scheme.
Receiver Burton Wiand contends that Paul Wassgren was either "grossly negligent" or a knowing participant in the illegal sale of securities offered by EquiAlt LLC, a firm sued by the U.S. Securities and Exchange Commission in February for allegedly operating as a massive Ponzi scheme, according to Monday's complaint in the Central District of California....
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!