Venable offices in Washington, D.C. Photo: Diego M. Radzinschi/ALM Venable and Ex-Partner Accused of Fraud in Civil Suit Stemming From $11M Facebook Investment Scam
In an amended complaint filed last week in Philadelphia federal court, New York-based plaintiffs attorneys accused the national law firm and its former partner of knowingly vouching for their client's fake identity in the scheme.
April 14, 2021 at 05:02 PM
4 minute read
Venable LLP and a former partner in the firm's Los Angeles office are facing renewed allegations of fraud in a civil suit stemming from their representation of a convicted con man who is serving time in federal prison for scamming early investors in Facebook.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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