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Cite as In re Dickerson, 19 DB Rptr 363 (2005)
8.
In or about August 2003, the Accused began to negotiate, on behalf of the
Sterling Group, for the purchase of the Salatto and lease of the restaurant premises
from Steinberg.
9.
In or about September 2003, while the negotiations described in paragraph 7
were pending, the Accused undertook to represent Steinberg to terminate Steinberg’s
sublease to Lee. At the time, the Sterling Group was interested in leasing or
subleasing the Salatto premises, including that portion then occupied by Lee.
10.
The Accused’s independent professional judgment on behalf of Steinberg in
the Lee sublease-termination matter reasonably may have been affected by the
Accused’s financial, business, property or personal interests as a principal in the
Sterling Group and its interest in purchasing the Salatto and leasing the Salatto
premises.
11.
The interests of the Sterling Group in purchasing the Salatto restaurant and
leasing the premises differed from the interests of Steinberg as seller and lessor or
sublessor. Nevertheless, Steinberg expected the Accused to exercise his independent
professional judgment on Steinberg’s behalf insofar as the Lee sublease-termination
matter was concerned.
12.
The interests of the Sterling Group in purchasing the Salatto restaurant and
leasing the premises were objectively adverse to the interests of Steinberg.
13.
To the extent that full disclosure and consent were available to cure any
conflicts of interest described herein, the Accused failed to make full disclosure to
and obtain consent from Sterling or Steinberg before he proceeded to represent them.
Violations
14.
The Accused admits that, by engaging in the conduct described in this
stipulation, he violated DR 5-101(A), DR 5-104(A), and DR 5-105(E).
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