When it rains it pours… Just ask the lawfirm, Dreier, LLP, whose founder and sole equity partner Marc Dreier is facing charges stemming from his alleged involvement in a $113 million hedge fund fraud scheme. Also, Wachovia is suing the firm for defaulting on $9 million in loans. And now, three former attorneys who worked for Dreier LLP have stepped out publicly and stated that they are “no longer affiliated in any manner with Dreier, LLP.”

Seth Ostrow, Matthew L. Kaufman and Adrianna Frankl are forming their own practice after leaving the firm. Calling Dreier LLP’s predicament “disgusting.”

Going against the firm in a public manner is unusual. According to Carey Bertolet, the managing director of BCG Search’s New York office, “I would definitely be interested in knowing what the motivation for that was.”

Only time will tell…stay tuned.

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