We explore and analyze current issues and relevant topics to help accountants, attorneys, architects and engineers, insurance agents and real estate brokers avoid a professional liability case.
The Missouri Court of Appeals, Eastern District affirmed summary judgment for an accounting firm, finding a non-client (third party) of the accounting firm could not show as a matter of law the accounting firm caused it any injury.
This legal malpractice action arose from an underlying suit a condo association (“Loftominium”) originally filed against a developer for defects in a building’s construction. Loftominium retained John Jacoby (“Jacoby”), McDonald Hopkins LLC (“McDonald”), and Nyhan, Bambrick Kinzie & Lowry, P.C. (“Nyhan”) as counsel in its suit against the developer.
The “Bernie Madoff Scandal” broke on December 11, 2008, when the FBI arrested the eponymous chairman of Bernard L. Madoff Investment Securities LLC (“BLMIS”), and charged him with one count of securities fraud. He later pled guilty to 11 counts of securities fraud. Seven years later, the effects of his Ponzi scheme, believed to be the largest in U.S. history, are still being felt as court rulings on the matter continue to come down.