The lawsuit, brought by a former Shartsis Friese client, reveals a number of abuses including fraud and deceit, mail and wire fraud, breach of fiduciary duty, and file churning.
San Francisco, CA (PRWEB) June 13, 2014
A lawsuit alleging fraud, violation of various Federal statutes, and breach of contract against the San Francisco-based law firm Shartsis Friese LLP (case # BC541392) has been filed in California Superior Court at the Stanley Mosk Courthouse.
The lawsuit, brought by a former Shartsis Friese client, Roger Peikin, alleges a number of abuses including fraud and deceit, mail and wire fraud, breach of fiduciary duty, and file churning.
The lawsuit details specific complaints against Shartsis Friese attorneys setting forth various improprieties, including:
- Mail Fraud in violation of 18 U.S.C. 1341;
- Wire Fraud in violation of 18 U.S.C. 1343;
- Fraud and Deciet;
- Breach of Fiduciary Duty; and
- Constructive Fraud
This case is currently going forward.
There is also an additional allegation of "overbilling" detailed by the plaintiff, described in the original filed complaint as follows:
"Over the course of 18 months, Defendants billed PLAINTIFF for over $1.4 million in 16 attorneys' fees and costs. Defendants' engaged in abusive billing practices and excessive overbilling, 17 including the following: 18 a. 19 20 b. 21 22 23 24 c. 25 26 27 28 Defendants and their employees billed PLAINTIFF for more time than was actually worked; Defendants over--billed PLAINTIFF for work that was performed or should have been performed by legal assistants or paralegals. Defendants billed PLAINTIFF for work performed by a partner attorney, which should have been performed by an associate attorney. Defendants engaged in unreasonable/excessive billing based on work product and results, including but not limited to the following: • Attorney David Hong billed $35,000 at $275/hour to review documents in the SEC action, but generated no written work product."
Shartsis Friese's website states that “Shartsis Friese LLP is one of San Francisco’s leading law firms. Shartsis Friese is known for its trial and litigation capabilities and is regularly called upon to handle some of the most exciting cases in state and federal court in California. The firm also serves as outside general counsel to some of the region’s leading mid-cap companies, while maintaining premier practices in areas such as hedge funds and investment advisors, securities enforcement defense, real estate, intellectual property, venture capital and trusts & estates litigation.”
Some of Shartsis Friese's past clients listed on its website are:
Adobe Systems, Inc.
Advanced Micro Devices, Inc.
Alkeon Capital Management, LLC
Apex Capital, LLC
Artis Capital Management, L.P.
Atherton Lane Advisers, LLC
Churchill Management Group
Colchis Capital Management, L.P.
E&E Co., Ltd.
Falcon Point Capital, LLC
Karen Neuburger Sleepwear (KN Ltd.)
Light Street Capital Management, LLC
MagiNet Pte. Ltd.
McKinley Capital Management, Inc.
Nova Wines, Inc.