Client Services / Trial / Professional Responsibility

Professional Responsibility

McDermott Will & Emery regularly represents lawyers and accountants in a full range of professional responsibility matters, including the defense of malpractice claims, securities class actions, regulatory and ethics investigations, partnership disputes, insurance coverage issues, white-collar criminal defense and other litigation.  We represent some of the largest global professional services firms in sensitive and high stakes cases.

Legal Industry
Our Professional Responsibility Practice Group melds in-depth, substantive knowledge of lawyers’ professional and ethical responsibilities with strong courtroom skills and experience.   Our group’s lawyers are well respected by their peers and include members of the American College of Trial Lawyers, lawyers ranked in The Best Lawyers in America and former chairs of key committees on ethics, including the American Bar Association’s Standing Committee on Ethics and Professional Responsibility.

We have successfully represented major law firms located throughout the United States in malpractice suits, malicious prosecution actions, class action securities cases, RICO claims and matters arising from alleged breaches of fiduciary duty or the rules of professional conduct.

We also counsel law firms and their lawyers on a wide range of partnership and professional responsibility matters, including issues relating to business organization and management.  Our assistance in this area includes enforcement of, and counseling concerning, covenants not to compete, partnership dissolutions and mergers.  We have represented lawyers planning to depart their firms as well as law firms faced with the departure of valued attorneys, and we have crafted amicable settlements covering compensation and billing issues.

Accounting Industry
Our Professional Responsibility Group brings substantial experience to the representation of accountants, defending complex securities, audit, tax and other financial statement oriented litigation.   Our group includes a senior trial lawyer who is also a Certified Public Accountant, former counsel in the Division of Enforcement of the SEC, and experienced trial lawyers with substantial experience in malpractice, securities and class actions.  We also represent accountants in criminal and civil tax fraud proceedings and proceedings before the SEC, PCAOB and other regulatory bodies. 

REPRESENTATIVE PROFESSIONAL LIABILITY EXPERIENCE

Legal Industry

Our lawyers handle a wide range of matters for law firms and lawyers, which include the following representations: 

  • Defense of a partner in a U.S. law firm against allegations of options backdating
  • Defense of an international law firm and one of its individual partners in a seven-week trial in which plaintiff was seeking over $20 million in damages based on claims of professional negligence and violations of the rules of professional conduct arising out of various partnership and real estate matters
  • Defense of a U.S. intellectual property law firm and its individual partners in a three-month jury trial in which plaintiff was seeking over $300 million in damages based on claims of professional negligence, violations of the rules of professional conduct, breach of fiduciary duty and fraud arising out of a complex patent infringement and licensing dispute
  • Defense of a partner in a U.S. law firm in a major criminal matter
  • Defense of a U.S. law firm on a claim by former partner seeking retirement benefits
  • Defense of a partner in a U.S. law firm on a multi-million dollar claim arising out of the partner’s relocation to new firm
  • Defense of a U.S. law firm in a multi-million dollar claim arising from an alleged failure to properly document and close a complex lease arrangement
  • Defense of a U.S. law firm on a $14 million claim by a client alleging that the firm failed to properly advise and protect the client in a multi-party federally financed real estate rehabilitation project
  • Defense of a U.S. law firm faced with multi-million dollar claims by the beneficiary of irrevocable inter vivos trusts for legal malpractice in the structuring of transactions
  • Representation of a real estate partner in a U.S. law firm in proceedings instituted against him by state disciplinary authorities
  • Representation of a law firm in a motion to disqualify it from continuing to represent its client in a pending lawsuit
  • Defense of an international law firm and three of its individual lawyers in a lawsuit alleging professional negligence and impermissible conflicts of interest in connection with the creation of an estate plan and related partnership transactions
  • Defense of an international law firm against claims of professional negligence arising from representation of a plaintiff in a real estate foreclosure and bankruptcy proceeding in Texas
  • Representation of a U.S. law firm in four lawsuits alleging violations of the Securities Exchange Act of 1934 in connection with a failed California savings and loan association
  • Defense of an international law firm against tort claims brought by a partner of the law firm’s client
  • Defense of an international law firm against malpractice claims arising from its representation of clients in a federal securities fraud class action
  • Defense of a U.S. law firm against a malpractice claim by a high-profile entertainment industry client

Accounting Industry

McDermott lawyers handle a wide range of matters for accounting firms and accountants, which include the following representations: 

  • Obtained jury verdict after seven week jury trial, affirmed on appeal, in favor of U.S. accounting firm in defense of securities fraud and negligence claims, resulting in seminal decision for defense of accounting firms
  • Obtained substantial recovery on behalf of U.S. accounting firm on claims it was defrauded into issuing incorrect audit opinions by its audit client, which had perpetrated massive securities fraud
  • Defense of a U.S. accounting firm with respect to claims by a class of investors alleging federal securities law fraud and state negligence claims; issues concerned revenue recognition for software licensing agreements
  • Defense of a U.S. accounting firm in connection with inquiries by the U.S. Department of Justice arising from alleged tax shelter investments
  • Represented a U.S. accounting firm in a lengthy, formal proceeding initiated by the Division of Enforcement of the SEC, involving ten days of sworn testimony from auditors; enforcement action was recommended against the officers and company, but no action was recommended against the accounting firm
  • Defended a U.S. accounting firm against a bank claiming that a negligent audit failed to detect fraud at a borrowing company; allegations of spoliation concerning lost working papers were defeated
  • Tried to successful jury verdict claims that audit failure by a U.S. accounting firm allowed embezzlement to go undetected
  • Represented a U.S. accounting firm in a securities fraud case alleging that the firm issued false audit opinions on the financial statements of a bank which allegedly were relied upon by purchasers of the bank’s stock
  • Defense of U.S. accounting firm against negligence claims by Liquidator of three insolvent Illinois insurance companies
  • Obtained a jury verdict after a two-week trial in favor of a regional accounting firm alleged to have prepared erroneous projections used by a client to purchase a business
  • Represented a former partner of a U.S. firm in an ethics inquiry by the Professional Ethics Division of the American Institute of Certified Public Accountants
  • Represented a U.S. accounting firm defending claims by limited partners in an investment partnership that the general partner’s fraud should have been detected by accountants
  • Advised an international accounting firm in connection with an SEC investigation, including representation with respect to SEC interviews, production of documents and depositions
  • Represented a U.S. accounting firm in a successful jury trial regarding claims of malpractice in the giving of tax and estate planning advice
  • Represented a U.S. accounting firm in three actions, including RICO, securities fraud and class action claims, in which the accountants were alleged to have promoted and induced investments by clients in an illegal coal mining tax shelter scheme
  • Represented Chief Accounting Officer in internal investigation at Fortune 100 company

Contacts

Trial Client Services

McDermott Will & Emery

McDermott Will and Emery