Dilworth Paxson Again Seeks Dismissal of Federal Suit Alleging Role in Bond Fraud
A Dilworth Paxson partner's role as bond counsel for an ill-fated investment scheme is at the center of a case brought by the Chicago Transit Authority Retiree Health Care Trust.
December 29, 2020 at 02:26 PM
5 minute read
Attorneys for Philadelphia-based midsize law firm Dilworth Paxson asked a federal court last week to toss out a complaint by the Chicago Transit Authority Retiree Health Care Trust, which claims the firm played a role in defrauding it, other investors and a Native American tribal entity of tens of millions of dollars.
The health care trust sued Dilworth in October 2019 in the Circuit Court of Cook County in Illinois in an effort to reclaim more than $4 million in funds invested in bonds issued by Wakpamni Lake Community Corp., a tribally chartered corporation associated with the Oglala Sioux Tribe. The complaint was removed to the U.S. District Court for the Northern District of Illinois the next month.
But Dilworth has contended in its latest filing that the firm "had nothing to do with plaintiffs' investment" and that "Dilworth also never represented plaintiffs and had no other duty to them." The firm previously sought dismissal of the case, which U.S. District Judge Mary Rowland denied in a Nov. 2 order.
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