Florida Law Firm Asks to Be Dissolved
Headline News
A prominent Fort Lauderdale law firm is asking a Florida court to dissolve it amid allegations that substantial amounts of money are missing from accounts created by the firm's co-founder, Scott Rothstein.
The possible dissolution of Rothstein Rosenfeldt Alder PA would amount to a repudiation of the politically well-connected Mr. Rothstein by his law partners and pose a potential embarrassment to the many Republican politicians in the state who have enjoyed his support. The 47-year-old attorney has boasted of a rags-to-riches ascent from a modest New York childhood in the Bronx to a lifestyle of luxury cars and sumptuous homes.
If the firm is dissolved it could meet the same fate as Dreier LLP, a New York law firm that was closed after its founder, Marc Dreier, was arrested for defrauding investors by selling bogus notes. Earlier this year, Mr. Dreier was sentenced to 20 years in prison. It is still unclear, however, whether the Florida firm would have to disband.
Mr. Rothstein didn't respond Monday to requests for comment. In an email exchange with The Wall Street Journal last week, he said he had "nothing to hide at all." Mr. Rothstein's attorney, Marc Nurik, didn't reply to requests for comment.
A spokesman for the law firm said it has launched an internal probe focused on a business Mr. Rothstein started that involved selling purported legal settlements to investors. He said the firm has contacted the U.S. attorney's office in Miami. At least one of the investors—Banyan, a Fort Lauderdale investment firm—has also contacted the U.S. attorney's office, which declined to comment on the matter.
Related listings
-
Cravath Firm Cuts Bonuses for Most-Junior Lawyers
Headline News 11/03/2009Cravath, Swaine & Moore LLP, the New York law firm, announced bonuses for salaried lawyers ranging from $7,500 to $30,000, based on experience, according to bloomberg.Cravath’s announcement opens the bonus season among large New York law firms. T...
-
Prominent law firm investigates partner
Headline News 11/02/2009The Supreme Court turned away another appeal to stop the release of documents generated for sexual abuse lawsuits against priests in a Roman Catholic diocese in Connecticut.The court on Monday refused to hear an appeal from the Diocese of Bridgeport,...
-
Court examines jury selection in doc's slay trial
Headline News 10/28/2009The highest court in Massachusetts is scrutinizing the jury selection process in the trial of a once-prominent doctor who is serving a life sentence in the 1999 killing of his wife.The Supreme Judicial Court has ordered Judge Paul Chernoff to answer ...
New York Commercial Litigation Law Firm - Woods Lonergan PLLC
Founded in 1993 by Managing Partner James F. Woods, Woods Lonergan PLLC has built a strong reputation as a resourceful and industrious firm that provides clients with clear, concise, and straightforward answers to their most challenging legal issues. Partner Lawrence R. Lonergan, who joined the firm in 2008, has been a friend and colleague to Mr. Woods for over 40 years and shares the same business philosophy. Woods Lonergan PLLC’s collective experience and expertise enables the firm to expeditiously and effectively analyze the increasing challenges clients face in an evolving business and legal world, in many instances, avoiding unnecessary time and expense to our clients. Our mission is simple: provide cutting-edge expertise and sound advice in select areas of the law for corporate and business clients. We thrive on providing each client with personalized attention, forceful representation, and a collaborative team effort that embraces collective knowledge.