Courtesy photo Schnader Harrison Faces Class Action Over Allegedly Misappropriated Attorney Compensation
The suit says that income partners and counsel were forced to defer a portion of their annual compensation into the firm's pension plan, despite the pension plan itself not requiring such a contribution, and that money was ultimately commingled with firm operating funds.
February 08, 2024 at 03:32 PM
4 minute read
What You Need to Know
- Schnader Harrison Segal & Lewis is being sued for misappropriating deferred pension contributions made by income partners and counsel prior to its dissolution.
- Former income partner Jo Bennett alleges that the firm commingled deferred contributions with its operating account and failed to remit those contributions for 18 months.
- As a result of the firm's failure to properly remit the funds, income partners and counsel are allegedly being denied pension contributions dating back to 2022.
Schnader Harrison Segal & Lewis systematically misappropriated a portion of its salaried senior attorneys' compensation beginning around 2018, according to a class action suit filed by a former partner in Pennsylvania federal court on Wednesday.
Former Schnader Harrison income partner Jo Bennett sued the firm and 34 of its equity partners, claiming Schnader required eligible non-equity partners and counsel to defer a portion of their annual compensation into the firm's pension plan, despite the pension plan itself not requiring such a contribution.
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