Monday, 31 August 2015
Last updated 8 min ago
Mar 22 2012 | 2:38am ET
Platinum Partners recently fired the law firm defending it against allegations that it aided a Ponzi scheme. But it still owes Shutts & Bowen almost half-a-million dollars, the firm said in a lawsuit filed this week.
Miami-based Shutts alleges that Platinum, founder Mark Nordlicht and several business associates have refused to pay some $443,000 in legal fees. Shutts had been handling Nordlicht's defense in a pair of lawsuits filed by the trustee in the Scott Rothstein fraud case; the firm was replaced by Bilzin Sumberg Baena Price & Axelrod due to concerns Platinum had about Shutts' work.
Shutts filed the case in Miami federal court. Platinum and Nordlicht have yet to respond.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…