Waterloo Law Firm Reportedly in Turmoil Following Allegations of Investment Fraud Against Its President, David Alan Roth
Gallagher, Langlas and Gallagher, a prominent Waterloo law firm, is reportedly facing turmoil following allegations of investment fraud leveled against its former president, David Alan Roth.
Investment-related fraud and alleged malpractice accusations have been leveled at the former president of a prominent Waterloo law firm Gallagher, Langlas and Gallagher, according to court reports from Cedar Rapids cited in the media.
The reports also state that Gallagher Langlas will continue to exist as a company while the alleged legal claims and litigation play out.In addition, the firm’s website, glglaw.net, which previously listed 10 attorneys in September, has reportedly been taken down, and a local credit union has allegedly asked the court to appoint a receiver to oversee the firm’s property after getting word it terminated its lease for office space.
Clients Have Accused Former Gallagher Langlas President David Alan of Allegedly Stealing Settlement Proceeds
The recent actions regarding Gallagher Langlas come just two months after clients started to accuse Gallagher Langlas president David Alan Roth of allegedly stealing settlement proceeds, insurance payouts, and allegedly mishandling investments clients put up under a litigation investment scheme, according to reports from Cedar Valley.
The reports further claim that Roth, 51, reportedly took his own life in September, and former clients and creditors have since filed millions worth of claims against Roth’s estate alleging theft and unpaid debts.
Representatives for Gallagher Langlas said the firm had no knowledge about the alleged thefts involving Roth. In addition, the firm also reportedly said that it did not offer investment opportunities or fund management services, and Roth had no authority to solicit or manage investments, and was not acting as an agent of the firm when he allegedly accepted the money.
The Peiffer Wolf investment recovery attorneys often represent investors who lose money as a result of investment misconduct. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Any investors who believe they lost money as a result of alleged misinformation may contact the investment rights attorneys at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.