Los Angeles, CA 90010-3792
8 December 2012 | Active (12 years, 4 months ago) |
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8 November 2012 | Not eligible to practice law in CA (12 years, 5 months ago) Discipline w/actual suspension 05-O-02531 |
29 December 2011 | Disciplinary charges filed in State Bar Court 05-O-02531 (13 years, 4 months ago) |
29 September 1994 | Active (30 years, 7 months ago) |
1 January 1992 | Inactive (33 years, 4 months ago) |
1 August 1983 | Admitted to the State Bar of California (41 years, 9 months ago) |
November 8, 2012 LEODIS CLYDE MATTHEWS [#109064], 63, of Los Angeles was suspended for one year, stayed, placed on two years of probation with a 30-day actual suspension and he was ordered to take the MPRE. The order took effect Nov. 8, 2012. Matthews stipulated that he did not provide adequate written disclosure of a conflict of interest or obtain a supplemental written waiver about the conflict.He was hired to provide advice to Westland Architecture and Development Corp., a company that bought and developed distressed properties; the company had accused two parties of violating a contractual obligation to sell an option on a Wilshire Boulevard property. If Matthews were successful in acquiring the option for Westland, he was to receive an interest in the option himself.After bankruptcy proceedings, changes in company management and Matthews’ dismissal as Westland’s attorney, Matthews formed Retra Financial Inc., a group of investors that wished to acquire the option on the property. Although he informed Westland of his intentions, he did not provide a written conflict of interest disclosure. After the company sold the option to Retra, Westland accused Matthews of malpractice and breach of fiduciary duties to his former client. A jury awarded damages of more than $2 million to Westland.Although the trial court found there was no substantial evidence to support the jury’s verdict that Matthews breached his fiduciary duties, an appellate court ultimately directed the trial court to reinstate the verdict in favor of Westland and against Matthews.In mitigation, Matthews had no prior discipline record and he cooperated with the bar’s investigation. |