Beck v. Lazard Freres & Co., LLC

This is one of a series of cases in which the trustee for the bankrupt Southeast Banking Corporation has attempted to recover assets from the bank’s former officers and directors, several accounting firms and a law firm. Plaintiff Jeffrey H. Beck, as trustee of Southeast Banking Corporation, sought to recover damages against the defendant investment firm of Lazard Freres & Co. for advice it gave concerning Southeast’s acquisition of First Federal Savings and Loan Association of Jacksonville. The trustee alleged the defendant breached its contractual obligation to Southeast in a letter giving…