Klein & WilsonBusiness Litigation Attorneys Orange County & Newport Beach California2024-03-18T07:30:37Zhttps://www.kleinandwilson.com/feed/atom/WordPress/wp-content/uploads/sites/1502222/2020/05/cropped-favicon512-1-32x32.pngOn Behalf of Klein & Wilsonhttps://www.kleinandwilson.com/?p=570682024-02-14T18:03:29Z2024-02-14T18:03:29ZDivided loyalties
A conflict of interest arises when a person has competing loyalties or interests that prevent them from acting objectively. For example, say you hire an attorney to represent you in a dispute with their current client. They now have divided loyalties to you and their existing client. This could inhibit them from effectively arguing your case, especially if they do not want to anger their other client. Similarly, attorneys might have personal relationships or financial ties that sway their judgment.
Missed opportunities
Attorneys with conflicts of interest might not raise valuable arguments or objections that could bolster your case. They may decline to put certain witnesses on the stand if it hurts their other interests. This results in missed opportunities to present facts favorable to your position.
Breaches of confidentiality
When you share sensitive information with an attorney, you expect them to keep it confidential. However, conflicts of interest open the door to breaches of confidentiality. An attorney may intentionally or inadvertently share details about your case with an adversary they have ties to. This gives your opponent an unfair advantage, as they gain insider knowledge about your strategy and evidence.
For example, a professional could mention damaging evidence you disclosed, allowing the other party time to prepare a counterargument. Or they may reveal the lowest amount you are willing to settle for, hampering your leverage in negotiations. Confidentiality breaches betray your trust and undermine your position.
When you entrust your case to an attorney, you need to know that you have their commitment. Conflicts of interest throw their judgment into question and leave strong arguments unmade. If you suspect divided loyalties, consider a second opinion for more guidance.]]>On Behalf of Klein & Wilsonhttps://www.kleinandwilson.com/?p=568172023-10-20T23:07:19Z2023-10-20T23:07:19Z1. Inconsistent property documentation
One of the first red flags to watch out for is inconsistent property documentation. When reviewing property records, such as deeds, titles and zoning documents, ensure they align with the initial information presented. Discrepancies in property boundaries, ownership records or permitted land uses can indicate a potential issue.
2. Rushed or pressure-packed transactions
Fraudsters often seek to rush property transactions, creating a sense of urgency or pressure on potential buyers. If you find yourself in a situation where the seller is pushing for an immediate decision or is unwilling to provide sufficient time for due diligence, exercise caution.
3. Unusual payment requests
Another warning sign of real estate fraud involves unusual payment requests. Be wary if the seller insists on using unconventional payment methods, such as cryptocurrency or offshore accounts. Legitimate property transactions typically use standard payment channels, and any deviation from this norm should raise suspicion.
4. Discrepancies in property inspection
A thorough property inspection is an important part of the due diligence process. If you notice any discrepancies between what you observe on-site and the description in the property listing or by the seller, proceed with caution. Hidden issues, such as structural problems or environmental hazards, can lead to significant financial losses down the road.
During the first half of 2023, Los Angeles held the top spot commercial real estate market with $43 billion in volume, $6 million more than New York. With significant money and more at stake, identifying signs of real estate fraud in high-dollar commercial property deals is a necessity.]]>On Behalf of Klein & Wilsonhttps://www.kleinandwilson.com/?p=568162023-10-20T23:05:22Z2023-10-20T23:05:22Z1. Unexplained discrepancies
One of the earliest signs of potential accounting malpractice is discrepancies in your financial records. If you notice inconsistencies between the numbers on your balance sheet and what you see in your day-to-day operations, it is time to investigate. Such discrepancies may indicate that someone within the organization is mishandling funds or manipulating data.
2. Lack of transparency
If your financial team or accountant is not forthcoming with information or seems reluctant to answer your questions about financial matters, be cautious. A lack of transparency is a glaring sign of potential malpractice. It may indicate that someone is hiding financial mismanagement or irregularities. Maintain open and honest communication with your accounting team to ensure that everything is above board.
3. Missing or altered documents
Accounting relies heavily on documentation. If you find that financial records are missing, incomplete or altered without proper explanation, this is a clear sign of potential accounting malpractice. Documents such as receipts, invoices and bank statements play a pivotal role in ensuring accuracy and accountability.
4. Unusual financial behavior
Keep an eye out for unusual financial behavior, such as sudden and unexplained fluctuations in revenue or expenses. If your financial reports show dramatic changes not justified by shifts in the market or business operations, it may be a sign of malpractice. Such anomalies could result from fraudulent activities like embezzlement or financial mismanagement.
Approximately 12% of fraud cases occurred in accounting in 2022. Vigilance is key to preventing accounting malpractice within your business.]]>On Behalf of Klein & Wilsonhttps://www.kleinandwilson.com/?p=565412023-05-31T22:52:21Z2023-05-31T22:52:21ZMissing deadlines
Clients rely on their lawyers to do things such as filing paperwork and contacting other parties on time. Missing a deadline can result in a client getting a smaller settlement or no settlement at all, especially in cases where there is a statute of limitations attached to filing a claim.
Engaging in a conflict of interest
In the legal world, a conflict of interest can occur when a lawyer represents two parties that oppose each other. This often results in the lawyer being unable to provide either party with services that are to the best of their abilities.
Withholding information
It is important that attorneys give their clients all necessary information pertaining to their cases, even if it is bad news that may reflect poorly on the attorney. Failure to give clients the information that the legal system entitles them to is unethical and violates the rules of the bar.
It is important for people to recognize signs of possible malpractice by attorneys so that they can take action to ensure that their rights are not violated and change lawyers if necessary.]]>On Behalf of Klein & Wilsonhttps://www.kleinandwilson.com/?p=564942023-04-04T19:59:08Z2023-04-04T19:59:08ZUnderstanding the severity of the breach
A contract breach occurs when one party fails to fulfill its obligations as outlined in the agreement. However, breaches vary in severity, and not all warrant legal action.
Material breaches are significant violations of contract terms that render the agreement irreparably harmed. In such cases, the non-breaching party is generally justified in pursuing legal remedies. In contrast, immaterial breaches are minor or inconsequential deviations from the terms that may not merit legal action.
Another factor to consider is the financial impact of the breach. If the breach has caused substantial monetary losses or damages, seeking compensation may be necessary. Additionally, if a party consistently fails to adhere to the contract terms despite prior warnings or agreements to remedy the situation, pursuing a breach of contract claim might be appropriate.
Exploring potential remedies for breach of contract
Before initiating legal action for a breach of contract, it's essential to explore the possible remedies available. Monetary damages are a common remedy, awarded to the non-breaching party to cover losses resulting from the breach. This can include actual losses, anticipated future losses or both.
In certain unique situations where monetary compensation is insufficient, a court may order the breaching party to fulfill their contractual obligations, a remedy known as specific performance. Furthermore, if the breach is severe enough, the non-breaching party may choose to terminate the contract and pursue damages for any losses incurred.
Each case is unique, and the most appropriate course of action depends on the specific circumstances surrounding the breach. With a thorough understanding of the issues at hand, you'll be better positioned to protect your interests and seek justice for any contractual violations.]]>On Behalf of Klein & Wilsonhttps://www.kleinandwilson.com/?p=564932023-04-03T19:20:25Z2023-04-03T19:20:25ZAccounting malpractice defined
Actionable accounting malpractice occurs when an accountant or department breaches the duty of care owed to a client while providing accounting services. Larger corporations with in-house accounting departments can suffer malpractice issues as well. To recognize signs of accounting negligence, you must understand the standard of care for these services.
The Generally Accepted Auditing Standards and Generally Accepted Accounting Principles serve as the guidelines for accounting best practices. When an accountant violates those standards, the company, estates or shareholders could become plaintiffs in a case.
Signs of accounting negligence
As a business owner or executive, you understand the value of reliable support services, including accounting professionals. When they make negligent choices, you must take swift action to remedy the situation, but first, consider some problems you may encounter that constitute accounting negligence:
Failure to maintain proper financial records for the company
Providing incorrect information on financial records or audits
Failing to prepare tax returns with accuracy or file promptly
Providing inaccurate or outdated tax advice
Accounting issues can go unnoticed for a long time, often coming to a head once the issues are bigger than the negligent party can cover.
At any time, your accounting department should be able to show you exactly how money flows in and out of the business. Missing deadlines or providing outdated information is inexcusable.]]>On Behalf of Klein & Wilsonhttps://www.kleinandwilson.com/?p=563772022-11-07T15:30:47Z2022-11-07T15:30:47ZKlein & Wilson in Newport Beach, California, has recently been recognized as a 2022 Top Boutique law firm in California by the Daily Journal. This award is presented on an annual basis to firms that are considered at the top of their practice area.
The Daily Journal is California’s largest legal news publication. Each year, its editors evaluate law firms in a variety of practice areas and choose a select few to receive the Top Boutique award.
[nap_names id="FIRM-NAME-1"] focuses on business and commercial litigation, including contract, real estate, intellectual property, and partnership disputes and legal malpractice cases. The firm has a track record of success, having won more than 90% of cases it has taken to trial. The firm has recovered more than $250 million in plaintiffs’ cases and has repeatedly won high-stakes defense verdicts. The Daily Journal Top Boutique award solidifies the firm’s standing in the California business litigation arena.
Clients benefit from [nap_names id="FIRM-NAME-1"]’s tremendous trial experience, attention to detail, and cost-efficient approach that is not typically seen in larger firms. The firm routinely creates multi-media presentations for its jury trials, court trials and arbitrations. Additionally, the firm prepares thorough litigation analysis memoranda (LAM) to provide clients a roadmap of their case from its filing to verdict. LAMs help clients decide whether to settle or pursue the case through trial.
To find out more about the firm or to schedule a time to meet with one of the attorneys, call 949-239-0907.
Media Contact: Kathy King
Job Title: Administrative Assistant
Email address:kking@kleinandwilson.comPhone number: 949-239-0907
Website: www.kleinandwilson.com]]>On Behalf of Klein & Wilsonhttps://www.kleinandwilson.com/?p=562662022-09-23T19:42:13Z2022-09-23T19:42:13ZValidate the suspicion with financial records
It is often necessary for those who suspect accounting malpractice to work with attorneys and even forensic accountants to verify what misconduct or errors actually occurred. Legal and financial experts are often also necessary to quantify the impact of such malpractice.
Once you have evidence that someone did not properly perform their job, you can then potentially pursue a malpractice claim.
You must act swiftly to hold a professional accountable for malpractice
In California, most licensed professionals will carry insurance. You may be able to bring a claim against an accountant's professional coverage if they made mistakes handling your finances. You may want to count on insurance, but you should still recognize that you need to take legal action.
Not everyone will carry adequate insurance for the scope of the mistakes that they make. A civil lawsuit may be necessary to recoup your losses, and you will need to pursue one soon after discovering the malpractice. Claims related to financial losses and injuries have a 2-year statute of limitations.
Especially if there have been complications during your negotiations with the insurance company or the accountant, you may need to file a lawsuit to protect your right to pursue compensation rather than risking the statute expiring and thereby losing the right to take legal action. You will always have the option of dismissing the lawsuit if you resolve things directly, but you won't have any options if they run out the clock while negotiating a settlement with you.
Understanding the rules that govern accounting malpractice claims can help you pursue justice when you lose resources because of a professional's failure.
]]>On Behalf of Klein & Wilsonhttps://www.kleinandwilson.com/?p=554312022-08-03T22:13:08Z2022-08-03T22:13:08ZWhat are some examples of accounting malpractice and giving negligent advice?
One example would be giving the wrong tax advice to a business owner, such as informing them that they don’t need to pay quarterly or that they can deduct expenses that they are not allowed to deduct. Both of these things could lead to financial penalties and trouble with the Internal Revenue Service.
Another potential case of malpractice could include failing to provide accurate financial statements to the business owner for whom they’re handling accounts. If you don’t have a good idea of what your accounts actually are, then you can’t make solid decisions for your business.
When is it time to contact an attorney?
You may want to contact an attorney about accounting malpractice if your business has lost $500,000 or more because of an accountant’s actions. Alternatively, if you are dealing with problems with the IRS or have other concerns, you may want to reach out to an attorney to learn more about your legal options and what you can do to protect your business.
Remember that you only have two years to start accounting malpractice or negligence litigation when you need to make a claim. California set the two-year statute of limitations to protect defendants and make sure cases are handled soon after the offense occurs. Don’t delay if you think you want to make a claim.]]>On Behalf of Klein & Wilsonhttps://www.kleinandwilson.com/?p=549022022-06-08T19:47:58Z2022-03-23T18:40:39ZMarch 21, 2022
Newport Beach, March 21, 2022 – The most widely read legal industry publication, the Daily Journal, named Mark B. Wilson as one of California’s Top Professional Responsibility Lawyers. Mark is among only 105 California State Bar certified legal malpractice law specialists, and few of those attorneys represent plaintiffs in legal malpractice and billing dispute cases.
A seasoned trial attorney and skilled negotiator, Mark B. Wilson has won nearly every case he has tried and arbitrated. Mr. Wilson lost only one jury trial and obtained a complete reversal on appeal. He represents clients in federal and state courts in a variety of matters, including business litigation and legal malpractice.
In 2021, Best Lawyers, an internationally recognized organization, named Mr. Wilson “Trial Lawyer of the Year” in trade secrets law. In 2019, Orange County Trial Lawyers Association (“OCTLA”) named Mr. Wilson “Trial Lawyer of the Year” in legal malpractice. OCTLA previously named Mr. Wilson as a finalist for the “Business Litigation Trial Lawyer of the Year.” He is presently listed in the Super Lawyers® Top 50 Orange County list and Top 100 Southern California list.
About Klein & Wilson
Klein & Wilson is a small trial firm in Newport Beach, California, that has produced giant results, including a $97 million settlement in a breach of trust case and a $9 million recovery in a legal malpractice case. Klein & Wilson‘s clients receive the same quality representation large law firms provide, with the added benefit of tremendous trial experience. Moreover, clients receive close personal attention and cost-efficiency not generally found in large firms.
Media Contact: Kathy King
Job Title: Administrative Assistant
Email address: kking@kleinandwilson.com
Phone number: 949-631-3300
Website:www.kleinandwilson.com]]>