$170 Million Probably Meant the Bank Had Some Good Defenses!

Let's see, if the investors were seeking $186 million in losses (plus the potential for punis) and TD Bank settled for $170 million, I'm guessing the defense case for the bank didn't look too good:

The settlement, reached last week by the investors' Fort Lauderdale lawyer William Scherer, breaks down this way: TD agreed to pay the investors $100 million for their losses and $20 million in interest on their original claim amount. Their attorney's law firm, Conrad Scherer, will receive $50 million in fees.

Scherer is receiving $50 million?

It took a while, but Rothstein finally did something good for his fellow lawyers.