Lynn Tavenner, the trustee overseeing the estate of the collapsed Richmond law firm LeClairRyan, last week filed a wave of lawsuits against dozens of former LeClairRyan partners in a bid to recoup potentially tens of millions of dollars for creditors, RichmondBizSense.com reported. The complaints, which total nearly four dozen, make similar claims against the various defendants depending on their prior stature at the firm. From each of the shareholding partners, Tavenner seeks to claw back certain compensation they were paid in the years leading up to LeClairRyan’s demise. For the defendants who were partners and had served on the firm’s board of directors, Tavenner alleges they breached their fiduciary duty to the firm as directors and their decisions helped contribute to its financial losses. From most of the shareholder defendants Tavenner wants five to six figures worth of compensation to be returned. For many of the former directors the suits seek tens of millions in damages. Among the higher ranking defendants on Tavenner’s hit list is Erik Gustafson, who served as CEO of LeClairRyan from 2016 until its dissolution in 2019. Tavenner’s 69-page complaint against Gustafson seeks to recoup $786,000 in allegedly improper compensation and $41 million in damages. Also being sued is Lori Thompson, who was the firm’s general counsel in its final days and served on its dissolution committee. Tavenner wants $386,000 in claw backs and $34 million in damages from Thompson. Thompson took over the role of general counsel from Bruce Matson, who is facing his own separate legal troubles dating back to his days at LeClairRyan.
