A former Nixon Peabody partner involved in a Securities and Exchange Commission investigation filed a lawsuit against his old firm.
According to the Los Angeles Daily Journal, Tamman says he was “thrown under the bus” by Nixon Peabody after he represented NewPoint Financial Services, which the SEC charged in 2010 for defrauding investors. Accused of falsifying documents and covering up a paper trail, Tamman was a target in the SEC investigation.
However, Tamman’s lawsuit claims that his former partners at Nixon Peabody are also at least partly responsible for the alleged misconduct, and that he was framed to take the blame. He says the firm was responsible for representing him in SEC proceedings.
Nixon Peabody spokesperson Brian Moynihan said in a statement that when Tamman “failed to explain his actions to us,” the firm fired him immediately in October 2009.
“The firm has acted completely appropriately in cooperating with the SEC on this issue,” Moynihan said.
Tamman is seeking damages for the book of business he lost. Additionally, his attorney, Stanley Stone, told the Daily Journal the SEC investigation has been put on hold since administrative proceedings occurred in January.