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Fla. Firm's Attorneys Rally Their Defenses as Partner Faces Fraud Allegations
The downfall of one-time power broker Scott Rothstein amid an alleged fraud that investors say cost them at least $400 million is generating new business for lawyers all over South Florida -- and some of that business is coming from attorneys with the Rothstein Rosenfeldt Adler law firm. Said well-known criminal defense attorney Fred Haddad, who has been retained by name partner Russell Adler, "Innocent people need a lawyer more than guilty people in something like this."The Score: Dewey's Football Bills, March Madness, and Opening Day
In our latest look at sports and the law, The Am Law Daily does some spring cleaning by tracking down the legal fees accrued by the National Football League Players Association in its collective bargaining battle with owners in 2011; catching up with one of the NCAA's top outside litigators from Schiff Hardin; and looking at the lawyers staying busy for Major League Baseball and the New York Yankees.Ineligible Pro Hac Vice Attorneys, In-House Counsel and Multijurisdictional Practitioners
Notice to the bar.Fla. Law Firm Rocked by Fraud Allegations Against Partner
Attorney and GOP fundraiser Scott Rothstein's rise in South Florida's legal and political worlds has ended with the revelation that investors claim he stole in excess of $200 million. The money is tied to a side business that offered structured settlements, which convert a lump sum award to installments for tax and cost-of-living reasons. Rothstein Rosenfeldt Adler's founding partner Stuart Rosenfeldt has asked a Florida judge to dissolve the firm and appoint a receiver to take over its finances but not its legal practice.The DOJ has used a Patriot Act provision to freeze the U.S. assets of people under criminal investigation in foreign countries--even when those assets haven't been subject to a foreign court forfeiture judgment. But when Justice tried to freeze $500 million belonging to a Brazilian banker, the D.C. Circuit ruled there are limits, after all, to the power of the Patriot Act.
Eric Butler's lawyers argued that his clients were happy with the high returns on the risky subprime securities Butler bought for them, at least until the market crashed. But the jury apparently believed Butler's former colleague, who testified that he and Butler misled clients about their purchases. Plus: The new Manhattan U.S. attorney makes some moves.
Manhattan district judge Scheindlin: "As I (and others) have repeatedly stated, the fact that damages must be calculated on an individual basis" is not fatal to class certification.
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