Mullin Hoard & Brown, LLP was founded in 1990 and has steadily expanded both in size and scope of its practice. MHB's growth has been built on the ability to provide a full range of legal services to national and regional clients doing business in the Southwest combined with a national litigation practice focused in the areas of accountants' and other professionals' liability, director and officer liability, and fraudulent transfer and bankruptcy-related claims.
Since the early 1990s, MHB has represented the FDIC and predecessor agencies such as the Federal Savings and Loan Insurance Corporation (FSLIC) and the Resolution Trust Company (RTC) in litigation throughout the United States resulting from investigations into the financial affairs of failed savings and loans. These cases typically involved inter-related claims for professional malpractice and breaches of fiduciary duty by officers and directors. The substantive accounting and auditing issues in these cases included inadequate loan loss reserves, accounting treatment for goodwill generated under purchase method accounting, improper recognition of year-end gains, and a host of issues arising under Generally Accepted Accounting Principles and Generally Accepted Auditing Standards, as well as regulatory accounting issues. The firm recovered close to $100 million on behalf of the federal government in these cases against various major national accounting firms.
In recent years, MHB has increasingly represented corporations and investors, liquidating trustees and litigation trusts, as well as Committees of Creditors and Equity Holders in the investigation and prosecution of these same types of claims. Our attorneys have examined a broad range of accounting, auditing and internal control issues, including revenue recognition issues such as improper use of the percentage completion accounting method, misappropriation of assets and looting, overstatement of the value of residual interests in mortgage-backed securities offerings, improper valuation of intangible assets or unique collateral, undisclosed related party transactions, undisclosed regulatory violations, understatement of accounts payable resulting from improperly performed reconciliations of general and sub-account ledgers, and understatement of incurred but not reported medical claims. The claims asserted in these cases frequently include violations of the antifraud provisions of the federal securities laws, and we are regularly engaged in the analysis of issues such as standing, allocation of fault and comparative negligence, imputation of wrongful conduct and in pari delicto issues, loss causation, and evaluation of damages based on loss of business value or deepening insolvency.
Mullin Hoard & Brown, L.L.P. is a member of the ALFA International legal network. The ALFA network is comprised of 145 law firms (80 in the United States) with over 400 offices throughout the U.S. and around the world. More information about ALFA can be found at www.alfainternational.com