A court-appointed receiver cleaning up after an alleged Ponzi scheme is barred by the statute of limitations from filing a $200 million malpractice suit against Sedgwick, the San Francisco firm argued in court papers filed on July 11.
The suit, filed on May 2 in federal court in Los Angeles, alleges that Sedgwick failed to meet its standards of care in approving undocumented loans for Medical Capital Holdings Inc., a financing firm charged by the U.S. Securities and Exchange Commission, along with various related entities and principals, with running a Ponzi scheme that defrauded investors out of $77 million.
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