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Biotech / Medical : GUMM - Eliminate the Common Cold
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From: StockDung7/1/2008 3:21:17 PM
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Snell & Wilmer eager to challenge allegations

By Stephanie Tavares / Staff Writer

Snell & Wilmer and the managing partner of its Las Vegas office are hitting back at allegations the firm supported wrongdoing by former executives of collapsed 1031 exchange firm Southwest Exchange.

The regional firm and Patrick Byrne, head of the Las Vegas office, were accused of malpractice, breach of contract, duel representation of adverse interests, breach of fiduciary duty and negligent supervision by Southwest Exchange clients who lost millions of dollars after the company collapsed.

The attorney representing Snell & Wilmer and Byrne in the matter released a statement June 18 denying the allegations. He said the lawsuit is a legal tactic to pressure the firm and Byrne into settling unsupported claims.

"The firm and Mr. Byrne have rejected the settlement demand by the receiver and look forward to defending the charges and exposing the groundless allegations made in the complaint," the statement said. "The firm has cooperated fully with the receiver in his efforts to uncover whatever wrongdoing brought down Southwest Exchange."

Snell & Wilmer is one of Nevada's most respected commercial law firms, and Byrne has been listed among the top Nevada attorneys in several national ranking services including Super Lawyers and Law Dragon.
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