Days after accusing its own leader of financial impropriety, Pierce Bainbridge Beck Price & Hecht and its global managing partner John Pierce have been sued by a high-interest business funding company and dropped by their lawyer, the prominent white-collar defender Marc Mukasey.
An entity called West Coast Business Capital sued Pierce and his firm Thursday in state court in Erie County, New York, asserting that it advanced $260,000 to Pierce Bainbridge three months ago in exchange for an agreement by the firm to pay back $387,400—a 49% return—in installments of around $24,000 a week. It alleges the law firm defaulted Feb. 19.
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