Fla. law firm seeks dissolution as lawyer probed
Law Firm News
A prominent and politically connected South Florida attorney was being investigated by his own firm for financial irregularities in an investment business that led his law partner to seek dissolution Monday.
The attorney, Scott Rothstein, and partner Stuart Rosenfeldt founded the firm Rothstein Rosenfeldt Adler in 2002. Now Rosenfeldt is seeking to dissolve their partnership and have the 70-lawyer firm placed into court-supervised receivership "to minimize any further damage caused by Mr. Rothstein," according to court documents.
"A review of the firm's records undertaken this past weekend indicates that various funds unrelated to the direct practice of law cannot be accounted for, circumstances suggesting that investor money may have been misused by Mr. Rothstein who controlled all such accounts," Rosenfeldt said in the court papers.
A lawyer for some investors, Jeff Sonn, said initial estimates of the missing cash range from $100 million to $185 million.
"Nobody knows for sure," Sonn said.
At a brief hearing, Circuit Judge Jeffrey Streitfeld put off a decision on appointing a receiver by a day, in part to find out if Rothstein plans to return from an undisclosed foreign country to contest the move.
"This is an extraordinary effort that would have to be undertaken on an immediate basis," Streitfeld said. "Let's take a deep breath and see where we're going."
Neither Rothstein nor his attorney immediately returned telephone calls and e-mails seeking comment. An attorney hired by Rosenfeldt, former Miami U.S. Attorney Kendall Coffey, said he has been assured that Rothstein will return to the U.S. Coffey also said he has notified federal prosecutors about possible criminal wrongdoing at the firm.
Related listings
-
Law Firm SJ Berwin Opens Shanghai Office
Law Firm News 11/02/2009Leading international law firm SJ Berwin has opened an office in Shanghai.The office is the firm’s third opening this year, its second in East Asia and its 12th office worldwide. It follows the opening of the regional office of SJ Berwin for East Asi...
-
Stobie Law Firm, LLC, New To Kirkwood
Law Firm News 10/30/2009Luke James Stobie, Attorney at Law, has been accepting clients since Oct. 1 at his new general practice law firm at 10702 Manchester Road, Suite 208, in Kirkwood. The Stobie Law Firm, LLC is a general practice law firm that provides effective, vigoro...
-
Foley & Lardner law firm gets $208M NIH contract
Law Firm News 10/29/2009The Milwaukee-based office of Foley & Lardner LLP says the law firm has received a $208 million contract from the National Institutes of Health. Foley says the contract calls for it to provide intellectual-property services for up to 10 years. Th...
Victorville CA DUI defense Attorneys
The outcome of a DUI defense will have a long-term effect on anyone’s life, making the decision to receive legal representation an easy one. The fact is, most people accused of a DUI are first offenders with no criminal background. Whether this is your first run in with the law or you have had previous convictions, you are in need of a DUI defense attorney.
The charges you are facing for a DUI range from fines, a 12-month suspension on your license and worst-case scenario, prison time. Your attorney will be able to analyze your situation to decide the best way to go about your case.
Our attorneys know the tricky ways to challenge all of the DUI tests and know how to claim improper collection of evidence. We will be able to negotiate on your behalf and free you from charges and help you keep your drivers license. The DUI process can last up to several months, we can make this process easier on you. .