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It’s been three months since City Attorney Mike Aguirre released his last interim report, but he will be presenting his ninth report (it’s unclear how many there will ultimately be) at a press conference this afternoon.
The title: Interim #9 on Breach of Contract, Fiduciary Duties, and Professional Negligence by Vinson & Elkins, LLP.
Vinson & Elkins were hired by the city to conduct an investigation into the city’s past financial dealings, concluding that the city failed to accurately disclose its fiscal situation to Wall Street and had tinkered with its pension system.
After the firm released one report and the draft for a second one, they tendered their resignation after auditor KPMG said the firm’s report was not independent enough. V&E was at the time also defending the city in front of the SEC, which gave the appearance of advocacy.
Because Aguirre thought the Vinson & Elkins probe resulted in a whitewash, he set off to conduct his own investigations, which resulted in an ongoing series of interim reports. Now, Aguirre is taking on the law firm in those very same reports.
It’s expected that a lawsuit against the law firm will follow shortly.
Read our special report on Vinson & Elkins by clicking here. And check back later for more.