The managing partner at Boston-based Thornton Law Firm said he made a “stupid mistake” by signing a false declaration of hours worked in the now-infamous State Street securities case, Law360 reports.
During a full day of questioning at a Boston federal court, Garrett Bradley said his “sloppy effort” led to a court-appointed special master investigation into the billing practices by his firm and other major plaintiffs’ firms like Lieff Cabraser Heimann & Bernstein and Labaton Sucharow. He said he believed the document, which falsely inflated Thornton attorneys billable hours and also claimed hours worked by attorneys who actually work for the other firms, was “boilerplate.”
The ensuing investigation also uncovered finders’ fees paid to other lawyers who did not work on the case but only recruited state pension funds to serve as lead plaintiff. The special master’s report alleged Labaton attorneys “engaged in consistent, conscious and calculated efforts to conceal” that payment.