Three year litigation ends in $25M settlement over Ponzi scheme

Holland & Knight has agreed to pay $25M to settle a litigation ongoing for three years.  The original lawsuit alleged that Holland & Knight missed red flag while working for hedge fund manager Arthur Nadel, who was later found to be operating a Ponzi scheme.  The receiver of the assets claims that had the law firm not missed the red flags, the Ponzi scheme would have been discovered earlier.

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