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: Legal Pad | LAPaul Hastings seeks settlement over billboard scam
By Jason Siegel
Paul Hastings has asked a federal judge in Atlanta to approve a settlement alleging the firm's Los Angeles lawyers helped clients sell investments in roving billboards that they should have realized were a scam.
According to the investors' complaint, the firm opted to ignore a summer associate's warning that there was a "significant risk of an enforcement action from the SEC or California Securities Commissioner."
The firm says it didn't know about that it was a scam. A letter from an investor to the judge in the case hints that the settlement may be $4 million, according to the Daily Report.
The judge will review the settlement next month.
Full post as published by Legal Pad | LA on February 25, 2008 (boomark / email).
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