Montgomery McCracken Walker & Rhoads has agreed to pay $980,000 to settle claims brought by a class of employee benefit plans that claimed the law firm received fees misappropriated from their plans by disbarred attorney and the operator of their trusts, John Koresko, according to a motion to approve the settlement.
In a motion filed April 27, the plaintiffs in Kalan v. Montgomery McCracken Walker & Rhoads said the law firm has denied any wrongdoing or legal liability but wanted to resolve the action through the settlement, which was negotiated through mediation before Diane Welsh of JAMS.
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