Bloomberg Law
May 4, 2015, 2:55 PM UTC

Proskauer Must Face Fraud Claims Over 15-Year Old Tax Shelter

Ellen Rosen

A New York state appellate court has allowed a case alleging fraud against Proskauer Rose LLP, arising from a 15-year-old tax shelter, to go forward. The litigation involves the heirs to the Johnson & Johnson fortune as well as two of their trusts and trustees.

The suit includes claims that two Proskauer partners advised the plaintiffs to shield some of their assets in a tax shelter and, in 2000, introduced them to a representative of promoter, the Diversified Group, or TDG, a firm in “the business of developing tax minimization strategies for individuals and families with high net worths,’' according ...

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