Posted Oct 20, 2011 10:50 pm CDT
Some 200,000 poker players are seeking $2 million that Cozen O’Connor allegedly earned in legal fees from clients related to an online company now said by the feds to have been involved in a Ponzi scheme.
The plaintiffs contend the law firm should disgorge the money because it knew or should have known that Full Tilt Poker’s funds were wrongfully obtained, reports Reuters.
Their federal lawsuit, which was filed Monday in U.S. District Court for the Central District of California, seeks class actions status. Owners of the company are also named as defendants in the suit, which asserts fraud, racketeering and unjust enrichment claims, among others.
Robert Fiebach, who serves as general counsel of the 500-attorney Philadelphia-based law firm declined to comment, saying that Cozen O’Connor had not been served with the complaint, reports Reuters.
Solo practioner Cyrus Sanai of Beverly Hills, Calif., is representing the plaintiffs. He says they have a total of around $900 million in damages against all of the defendants.
ABAJournal.com: “Poker Site Ponzi Scheme Paid $440M to Board, Celebrity Players, Other Owners, Feds Say in Suit”