EquiAlt Investors Seek Class Status in Suit Against Two Law Firms

Investors who say DLA Piper LLP and Fox Rothschild LLP knowingly aided and abetted a $170 million Ponzi scheme asked a federal judge in Florida for permission to move forward with their suit as a class.

The EquiAlt LLC investors accuse the firms of knowingly assisting the alleged scheme. Their claims “present the quintessential case for class certification,” according to documents filed as part of the investors’ certification motion in the U.S. District Court for the Middle District of Florida.

Paul Wassgren, a former Fox Rothschild partner who moved to DLA Piper, represented EquiAlt before the public learned of the ...