Just yesterday, LawFuel reported on the “The $1 Billion Case & The Unfolding Litigation Funding & Legal Drama.” The article suggested that the relationship between Pierce Bainbridge Beck Price & Hecht LLP and Hecht Partners LLP, may have some issues. Hecht Partners was formed by ex-named-partner David Hecht of Pierce Bainbridge, where he is joined by former Pierce Bainbridge partners Maxim Price, Kathy Lee Boyd, Conor McDonough, Janine Cohen, as well as Hecht’s wife Kinza Hecht. LawFuel mentioned a hearing which a Norton Fulbright partner characterized as “bizarre.”
Pierce Bainbridge — a firm that has boasted high-profile clientele including Rudy Giuliani, Michael Avenatti, Tulsi Gabbard, Don Lemon, Lenny Dykstra, Carter Page, George Papadopoulos and a Russian Oligarch – has been brutalized by a wide variety of serious accusations.
Around 60 attorneys have left in the last several months, and only a few remain. Pierce Bainbridge had a $65 million debt to litigation funder Virage Capital Management, which was doubtless a key reason for the departures.
In addition, Pierce Bainbridge is a defendant in three lawsuits from cash advance lenders for upfront payments totaling around $1 million and for which approximately $500,000 allegedly remains unpaid. In addition, a Philly lawyer has sued Pierce Bainbridge, and name partners: John Pierce, David Hecht (Hecht Partners), Max Price (Hecht Partners), Carolynn Beck (Goldstein & McClintock) and James D. Bainbridge.
Litigation funder Pravati Capital has moved to remove itself from the lawsuit brought by the Philadelphia lawyer against both it and Pierce Bainbridge and name partners John Pierce, David Hecht (Hecht Partners), Max Price (Hecht Partners), Carolynn Beck (Goldstein & McClintock) and James D. Bainbridge in respect of the alleged theft of the Game of Wars video on the basis that the case’s unsuccessful result established that there had been no unjust enrichment accruing to the company.
Also, ex-partner Don Lewis, a double Harvard graduate, says he blew the whistle on financial misconduct and the firm retaliated against him, Lewis has also filed two lawsuits, the law firms of Littler Mendelson (Jeanine Conley) and Putney Twombly (Michael D. Yim) are also defendants. That is a total of at least six pending lawsuits against Pierce Bainbridge.
Pierce Bainbridge Beck Price & Hecht face a number of allegations relating to their practices. Lewis has also accused PB partner Denver G. Edwards and ex-partner Christopher N. LaVigne (Withers Bergman) of “lying under oath.” Furthermore, Pierce, ex-partner Douglas Curran (BraunHagey & Borden) and ex-partner Tom Warren (Warren Terzian) are reportedly listed as individuals affiliated with investor solicitation materials for a litigation fund, Talon LF, LLC, intricately connected to Pierce Bainbridge. Pierce is listed as the Chief Investment Officer.
Curran as the Co-Founder and member of the Talon underwriting team. Warren as a member of the Talon team. The leaked solicitation materials appear to have misleading statements about the Pierce Bainbridge litigation track record.
Pierce Bainbridge had filed a motion to withdraw as putative class co-counsel in a matter where Southwest and Boeing Airlines are defendants. During a hearing on the matter, Hecht appeared, and reportedly claimed that while he was no longer a PB partner, he was still working with the firm and stated that the withdrawal motion was filed in error. The ex-PB attorney who filed the original withdrawal motion, has filed his own motion.
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