Zack Davidson, a Florida property developer, was sued for allegedly stealing over $3M from Marin Metropolitan District. The funds were supposed to have gone towards the development of a community but the monies are claimed to have been misdirected to Davidson’s personal use. The law firm, accounting firm and listing broker Davidson used have also been named in the suit – with the District explaining that Davidson relied on these parties to hide the fraud.
For the law firm sued, the allegations are new and the case promises to be expensive. A properly structured insurance program will provide defense costs for such a scenario. Court costs can easily enter the six figures and it is important to know that your insurance is well-suited for this event. Contact us to discuss ways to further protect your firm in the event of a lawsuit.