New Jersey | Legal Ethics
Legal Question
Lawyer Conflict of Interest
I have been working in a start-up venture and have recently discovered that the Managing Member of the LLC has engaged in numerous acts of fraud. Additionally, the attorney who has handled the company's legal matters is a 30yr friend of the Managing Member. He (attorney) was granted equity in exchange for his services but then billed and was payed an additional 50K. Does a conflict of interest/ethical violation on the attorney's part exist based on a) his pre-existing relationship with the Managing Member b) his accepting equity compensation in the company he represents c) his billing and accepting cash on top of the equity (he received equity then valued at 180K plus 50K in cash for services that would typically cost +/-25K)
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Read More Answered By: Barry Kozyra |
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