Daily News: August 29, 2012

K&L Gates Appeals Revival of Le-Nature’s Malpractice Suit

An article published on Law360.com reported that K&L Gates asked the Pennsylvania Supreme Court last week to review a lower court’s decision reviving a $500 million malpractice case by the liquidating trustee of Le-Nature’s accusing the firm of failing to uncover massive fraud at the now-defunct company.

K&L Gates and accounting firm Pascarella & Wiker are accused of giving Le-Nature’s a clean bill of financial health despite numerous red flags in a 2003 investigation ordered by a special committee of independent directors appointed after several senior financial managers resigned citing suspicions of fraud, the article noted.

To read the full Law360 article, click here.

Previously on abfjournal.com:

Law Firm Must Face Lawsuit Over Le-Nature’s Demise, Thursday, May 17, 2012