Bloomberg Law
May 18, 2022, 9:20 PM

Polsinelli Must Face Legal Malpractice Suit Over Old Crypto Club

David McAfee
David McAfee
Staff Correspondent

Polsinelli PC failed to convince a federal judge in Florida on Wednesday to throw out a legal malpractice suit alleging the firm didn’t do sufficient due diligence in its representation of a now-defunct cryptocurrency trading club.

The liquidating agent for Q3I LP sued Polsinelli and one of its attorneys for legal malpractice and other claims. The suit alleges the lawyers failed to catch false representations made by Michael Ackerman, who created the crypto trading algorithm used by the company, and didn’t verify the accuracy of his reported returns.

The firm moved to dismiss the complaint April 4, arguing it falls ...

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