fbpx
News
June 27, 2019

Attorney Says “Stupid Mistake” Led To State Street Overbilling

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.

Podcasts Episode 18: Why Federal Securities Suits Don’t Belong in State Court Securities Litigation Reform Stock data News D&O Diary Looks At 2021 Litigation Trends Securities Litigation Reform News D&O Diary Blog Calls For Congress To Take Up Securities Reforms Proposed In New ILR Briefly Securities Litigation Reform Blog D&O Diary: "Institute for Legal Reform: Congress Should Enact Reforms to Address Cyan" Securities Litigation Reform News In The News-August 16, 2021 Securities Litigation Reform

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Review Settings