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Bankruptcy Trustee Suits Cause Increasing Concern for Law Firms
Though they get fewer headlines, bankruptcy trustee suits have largely replaced shareholder class actions in law firm managing partners' nightmares. The suits are often better funded, better lawyered and, with the U.S. Supreme Court likely to further limit third-party liability in securities fraud cases, they may soon have a distinct legal edge. "In the past, there was not a strong inclination on the part of trustees to sue lawyers and accountants," says one bankruptcy partner. "Now they go after everyone."Whistleblower Ven-A-Care, which will receive $67.2 million for its efforts, is represented by the tiny Breen Law Firm in Alpharetta, Ga.
Insurers have flooded the courts with suits against investors that play a form of poker with the Grim Reaper by purchasing life insurance policies from third parties. A pair of related decisions issued last week by the Delaware Supreme Court may help insurance companies keep such "life settlement" investors in check.
The Layoff List: By the Numbers
Employment shifts at The Am Law 200, Global 100, and Other Firms of NoteTrending Stories
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
Strong & Hanni Solves Storage Woes--Learn How You Can, Too
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Meeting the Requirements of California's SB 553: Workplace Violence Prevention
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The Benefits of Outsourcing Beneficial Ownership Information Filing
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The Top 10 AI Use Cases in Private Equity
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