A former attorney at defunct Philadelphia-based law firm Schnader Harrison Segal & Lewis LLP filed a proposed class action saying the firm mismanaged the retirement benefits of non-equity partners and counsel.
The lawsuit, which names about three dozen of Schnader’s former equity partners as defendants, says the firm mishandled the retirement plan contributions made from the salaries of non-equity partners and counsel. Instead of promptly forwarding these amounts to the lawyers’ retirement plan as required by law, it commingled the money with the firm’s general assets and kept some of that money for itself as the firm’s financial struggles ...
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