Defended brokerage firm in $2.5M federal court lawsuit brought by about 30 plaintiffs alleging federal and state securities, RICO and other statutory and common law liability. This lawsuit was combined with six others into a multidistrict class action alleging $150M damages. After our initial discovery requests, threat of a summary judgment motion and brief negotiations, class plaintiffs agreed to dismiss client brokerage firm without prejudice. Class plaintiffs later settled with a number of defendants, and obtained a multimillion-dollar judgment against a national accounting firm. Action was never revived against client brokerage firm, which avoided all liability.
Before proceeding, please note: If you are not a current client of Lane Powell PC, please do not include any information in this email that you or someone else considers to be confidential or secret in nature. Prior to the establishment of a lawyer-client relationship, unsolicited emails from non-clients containing confidential or secret information cannot be protected from disclosure.