Posted Jul 25, 2011 11:31 pm CDT
A couple who say they came to Duane Morris for estate planning advice and wound up investing in a feeder fund for Bernard Madoff’s massive Ponzi scheme has sued the Philadelphia-based law firm for malpractice.
Developer Daniel Keating III and his wife assert claims for breach of contract, professional liability and quantum meruit in the Philadelphia Common Pleas suit they filed last month, reports Am Law Daily.
It says they suffered significant losses as a result of inappropriate advice allegedly provided by former partner Stanley Joffe and and contends the firm was aware of “substantial performance issues.”
Attorney Paul Troy of Kane Pugh Knoell Troy & Kramer is representing the defendants. He said they strongly disagree with the complaint’s allegations but declined to discuss the case in detail since it is a matter of pending litigation.