It depends on whose side of the story you believe. From the New Orleans Times-Picayune:

In a sensational legal filing (PDF), a former partner at Adams and Reese who is awaiting trial on charges that he stole $30 million from the firm claims that the firm has had a hand in scandals ranging from the WorldCom stock fraud to the abuse of Louisiana film tax credits.

The lawsuit also claims the New Orleans firm has made a practice of hiring former public officials, including former Jefferson Parish President Tim Coulon and former New Orleans Mayor Marc Morial, and improperly using them to land clients with whom they had dealt as public officials. Coulon and Morial deny the claim.

The 73-page civil racketeering lawsuit reads more like a legal thriller than a court filing. It portrays accused thief Jamie Perdigao as a hard worker who was trying to stay within ethical boundaries while senior members of the firm pressured him into bending the rules to make money.

The suit does not make clear whether Perdigao has evidence to support his allegations. The law firm called the suit “the latest episode in Perdigao’s continuing fantasy of blaming the government and our firm for his wrongdoing and lashing out at those who are holding him accountable for his actions.”

Several tipsters alerted us to this article. Some viewed it as par for the course in Louisiana:

“[A] nice scandalous law firm story, though not entirely surprising coming from New Orleans. Adams & Reese is certainly one of the top firms in the Gulf area and largely considered to be the closest you will get to Biglaw down there.”

“Most people don’t know how corrupt New Orleans politics really are, but now we’ve got a suit filed against Adams & Reese (the largest firm in the city) for its involvement. The plaintiff is a former partner caught stealing $20-30 million a few years back…. Guess he figures if he goes to jail, he may as well bring his former partners with him. Pretty good stuff.”

But another reader views Perdigao’s account skeptically, summarizing the situation as follows:

“Attorney steals $30M, then blames former firm in mini-Grisham novel, 70 page-RICO suit.”

This suit sounds like one to watch. We suspect that neither party will emerge smelling like magnolias.

Indicted lawyer says New Orleans firm steeped in corruption [NOLA.com / New Orleans Times-Picayune via ABA Journal]
Complaint: Perdigao v. Adams and Reese (PDF) [NOLA.com / New Orleans Times-Picayune]