The Professional Liability group of Armstrong Teasdale represents attorneys and accountants with respect to claims and litigation involving professional malpractice. We are keenly aware that in a professional malpractice action more is at stake than money. These cases threaten a professional’s most valued asset, his reputation. Therefore, we work very closely with the client to assess the risk, identify their goals, and to vigorously pursue their objective, whether it is a staunch defense or a discrete resolution.
Representation of Lawyers
Over the past several years Armstrong Teasdale has represented several of the largest law firms in the state of Missouri both in litigation and in the claims stage. These cases have involved some of the premiere insurers such as The Attorneys’ Liability Assurance Society (Bermuda) Ltd. (ALAS) and Syndicates of Lloyd’s of London.
Representation of Accountants
Armstrong Teasdale has also represented accountants in both in litigation and in the claims stage. One of the members of the Professional Liability Group has a Masters Degree in Accounting and was the lead author of Is there a Gap in Your Knowledge of GAAP, Financial Analysts Journal (Sept/Oct 2002), which discusses the sources of Generally Accepted Accounting Principles and their relative authority. Another member, in addition to being an experienced litigator, has an LLM in Taxation. Therefore, we not only understand the law and the litigation aspects of malpractice claims, we understand the substantive issues facing accountants.
Recent Representative Matters
Defense of attorneys and accountants involving a variety of allegations:
- Breach of fiduciary obligations
- Conflicts of interest
- Missing the applicable statute of limitations
- Misapplication of appropriate laws in the estates and trusts areas
- Preparation of erroneous Federal Income Tax returns
- Failure to follow Generally Accepted Auditing Standards