Law Firm Sues Hedge Fund Platinum

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.

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