Above is the title of the 2019 article describing the various lawsuits that the Trustee filed back in 2019. I spoke to Skip Miller late last year for some updates on these efforts. He was very positive, describing that a) the courts were more/less shut down all of 2020 due to Covid so progress was very modest for a year; and b) that the preliminary typical motions over ‘proper venue’ & normal motions asking for the judge to just dismiss the suit are all concluding late Spring of ’22.
Once that phase is behind us, then the courts will “set a trial date”. That’s when the $$$ negotiations will start. My guess is most of these firms/lawyers all have errors and omissions insurance policies. Once that trial date is set, the E&O policies will take over and drive most of the early negotiations toward a resolution. They will generally take over the settlement negotiations ahead of the actual defendants in many cases to try to limit and box in exposure dollar amounts.
Below is a link to this 2019 article if you want to read it.
Here’s a link to the actual legal complaint – it made me sick reading it.