An Illinois attorney alongside his previous law firm has consented to a settlement of $883,333 following accusations of mishandling the assets of their client, the United Employee Benefit Fund. The agreement was disclosed this past Tuesday in the U.S. District Court for the Northern District of Illinois.
According to the accusations, L. Stephen Platt breached federal benefits law and demonstrated professional negligence during his time working for the fund. The fund in question provides death benefits to the staff of participating businesses. The lawsuit conveyed that Platt’s professional advice was plagued with conflict, as his legal firm was simultaneously representing a former fund trustee with opposing interests. It is alleged that Platt incorrectly advised the fund; further details are yet to be provided.
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