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: Legal Pad | LA

Orrick agrees to pay $2.8 million to settle San Diego malpractice suit

By Jason Siegel

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Orrick Herrington agreed to pay $2.8 million to the city of San Diego to settle a malpractice suit over the city's pension fund scandal, The American Lawyer reported.

The city charged Orrick with failing to disclose the extent of the city's pension debt, which ballooned to about $1.7 billion while the firm was the city's bond and disclosure counsel from 1996 to 2003.

Orrick didn't admit to any wrongdoing as part of the settlement and a spokesperson told AmLaw that the settlement came at the request of their insurance carrier, who will cover all $2.8 million.

Full post as published by Legal Pad | LA on July 30, 2008 (boomark / email).

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