Daily News: May 17, 2012

Law Firm Must Face Lawsuit Over Le-Nature’s Demise

Bloomberg reported that an appeals court has ruled that a Pittsburgh-based law firm, K&L Gates, must face a lawsuit over the collapse of drink maker Le-Nature’s in a reinstatement of a $500 million case against the firm that was dismissed by a lower court in December 2010.

Bloomberg said that bankruptcy trustee Marc Kirschner sued K&L Gates in September 2009 in Pennsylvania state court, alleging the firm’s failure to detect fraud at the company resulted in losses of more than $500 million.
K&L Gates was hired by Le-Nature’s to investigate allegations of improper conduct, Bloomberg noted.

To read the full text of the Bloomberg story, click here.