In a few weeks, Jo M. Fairbairn of the law firm of Kinney & Lange must respond to the Office for Lawyers Professional Responsibility petition for disciplinary action in connection with alleged improper treatment of client funds in the client trust account. The press release is here. There are allegations of “inadvertent misappropriation” as well as allegations of “intentional misappropriation” with an alleged total misappropriation of $144,000.
Without passing judgment or making any comment as to the specific case, it is nevertheless clear that these lean times for law firms — the worst in many decades — have strained many firms and undoubtedly some past the breaking point.