Two former attorneys who represented PixarBio Corp. in an SEC investigation can’t recover insurance proceeds from the company’s securities liability policy due to a conflict of interest.
Mintz Fraade Law Firm’s representation of the pharmaceutical company related to the SEC investigation, “while the SEC was also interested in the lawyers’ own conduct in the same scheme, was an unwaivable conflict” under New York’s rules of professional conduct, the US Court of Appeals for the Second Circuit ruled.
Frederick Mintz and Alan Fraade agreed in July 2020 to pay the SEC just under $29,000 to resolve allegations they were part of ...
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