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Legal News

: Legal Pad | LA

Paul Hastings seeks settlement over billboard scam

By Jason Siegel

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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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