On August 1, 2023, Woodbridge Liquidation Trust (the “Trust”) agreed to settle its pending litigation against the defendant law firm Davis Graham & Stubbs LLP and its partner S. Lee Terry, Jr. in the case of Goldberg v. Halloran & Sage LLP, et al., Case No. 19STCV42900 (Cal. Super. Ct., L.A. Ctny.) (the “Action”). In the Action, which commenced on December 2, 2019, the Trust asserted claims against Robert Shapiro’s former legal counsel for aiding and abetting securities and other fraud, aiding and abetting breach of fiduciary duty, negligent misrepresentations, professional negligence, and aiding and abetting conversion.
The terms of the settlement are contained in a settlement agreement among Davis Graham & Stubbs LLP, Mr. Terry, and Michael Goldberg as Liquidation Trustee on behalf of the Trust.
Under the agreement, the Trust has agreed to dismiss its claims against Davis Graham & Stubbs LLP and Mr. Terry for $25,500,000. Such amount is expected to result in proceeds to the Trust of approximately $17 million, net of attorneys’ fees and other litigation expenses.
Lessons Learned from the Woodbridge Scam 
Greg! Great work researching this. I’m sure we, The Victims, appreciate your continued efforts. I was surprised when I tried to Google Woodbridge as I frequently have done only to find absolutely nothing comes up! Very hopeful that we’re still in the game.
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When might we get another pay settlement from Woodbridge net ? Thanks
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I guess we are lucky to receive anything. I had hoped some of the scam lawyers would face some jail time for taking advantage of older peropoles life savings. I guess we shareholders don’t get to vote on the amount of judgement. ”Thanks for keeping us informed
John Brancke
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There was another legal settlement in June with a net of $13 to the trust, so with the $17 million that makes $30 million available for distribution (don’t hold your breath as the trustees are keeping this going as long as posible so that they can continue to get paid their fees for doing almost nothing. Even with the current settlements they are simply settling for whats available through insurance so they don’t do any litigation on behalf of the investors. They get paid for doing nothing and the investors get ripped off again)
Stephen
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Thank you is this the second law firm out the 9, they have settled our claim. I kknow we received nothing from the other suit.
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Just want to say Thanks Greg for keeping up with this! Sure do appreciate you!
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Item 8.01 Other Events
An indirect subsidiary of the Trust has been notified of a construction defect claim by the owner of a single-family home purchased from the subsidiary. The subsidiary has tendered the claim to its insurance carrier. At this time, the amount of liability exposure, if any, has not been determined and it is not known whether such exposure may exceed the amount of insurance coverage. The subsidiary is engaged in investigating the claim, including the extent and causes of the alleged damage and the identification of other potentially responsible persons. At the recommendation of the Liquidation Trustee, the Supervisory Board of the Trust has suspended the making of additional Trust distributions pending the result of further information from the investigation.
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Greg, scroll down to the next paragraph and you’ll see all payments to the trust have been frozen!
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Based on the “Other events” section of the SEC filing in the link, it appears that all distributions have been suspended contingent on an investigation of an unrelated claim. That is so distressing.
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Thank you Dan!It is somewhat is taking an interest on this important matter.Is Shapiro in jail?
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Shapiro in Fed pen for 300 months
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