Eckert Seamans Cherin & Mellott on Friday received final approval for a $38 million legal malpractice settlement resolving suits filed against the firm for former partner John Pauciulo’s role in counseling Par Funding.
According to the final approval order signed by U.S. District Judge Rodolfo Ruiz of the Southern District of Florida, the settlement agreement will net $31.75 million for all investors defrauded by Par Funding to be distributed by the court-appointed receiver, led by Ryan K. Stumphauzer and Timothy Kolaya of Stumphauzer Kolaya Nadler & Sloman and assisted by Gaetan Alfano of Pietragallo Gordon Alfano Bosick & Raspanti.