Attorney Malpractice/Stockbroker Liability/Breach of Trust (Confidential)
N/AOUTCOME: The identities of the parties and the amount of the settlement were made confidential as a condition of settlement by the defendants.
In an action brought against a Trustee of a Trust, the attorney who advised the Trustee and set up various legal vehicles for the trustee's use and the brokerage firm which held the trust assets, the f ... irm negotiated a substantial settlement on behalf of the Trust. The allegations were that the brokerage and the attorney both knew or had reason to know that the Trustee was raiding the Trust for his own benefit, but failed to notify the Trust of that information and, in the case of the attorney, enabled the Trustee in that conduct by creating certain legal vehicles that facilitated that conduct.
