The Morning Report
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San Diego City Attorney Michael Aguirre has settled another of his lawsuits against firms retained by the city before and during the pension meltdown.
Orrick, Herrington & Sutcliffe, the city’s former bond counsel, has agreed to pay $2.88 million to settle a case filed by Aguirre in 2005, which alleged that the San Francisco-based firm failed the city by not discovering problems with the pension fund sooner.
The city will net $1.88 million from the settlement after paying expenses and a contingency fee to outside lawyers Bryan Vess and Dan Stanford, who assisted in the case, Aguirre said.
In settling the case, the San Francisco-based firm admitted no wrongdoing. And Aguirre said he would not object to the city hiring Orrick, Herrington & Sutcliffe for future bond counsel work.
To date, Aguirre said he has recovered a net of more than $9 million from outside lawyers, accountants and consultants somehow involved in the pension crisis.