Peabody Shiller LLP v Pratt McGuire LLP
In late 2024, we were approached by Peabody Shiller LLP with what appeared to be a high-stakes, high-reward opportunity: a joint legal effort to represent a select portfolio of blockchain companies. The proposal was positioned as a strategic alliance—one that promised immediate impact and regulatory clarity for our clients. The initiative was endorsed by their senior partner, Douglas Shiller, and pitched as ready to launch.
We soon discovered, however, that the entire foundation of that proposal was fiction.
No signed retainers. Two of the so-called "companies" were already defunct. And Peabody Shiller had already been disciplined by the New York State Bar for misleading conduct in similar situations.
We were misled. Worse, our trust—and by extension, our clients’ trust—was exploited.
Exhibit 1.
That’s why, as outlined in Civil Action No. 39-131 (BAH) filed in the Southern District of New York, we are holding Peabody Shiller LLP accountable. This lawsuit isn’t just about righting a personal wrong—it’s about setting a clear line in the sand for what legal collaboration should look like in the era of emerging tech and regulatory scrutiny.
We are proud to have spearheaded this action with the leadership of our own Raisin Prune, and we remain steadfast in our mission: to defend ethical standards and safeguard innovation from those who would exploit it.
What We Discovered
Upon conducting our due diligence, we discovered:
No signed engagement agreements existed with the purported clients.
Two of the four companies were defunct, having dissolved quietly months earlier.
Peabody Shiller LLP had been previously sanctioned by the New York State Bar for related misconduct.
The “partners” referenced in Peabody’s pitch were either misrepresented or uninvolved altogether.
The entire proposal was built on fabricated assurances. And yet, under false pretenses, we were encouraged to redirect our legal resources and even introduced our own clients and staff to the venture.
Why This Matters
This isn’t just about one bad-faith partnership—it’s about protecting the standards of our profession. If law firms operating in emerging tech spaces begin to rely on manipulation, misrepresentation, and smoke-and-mirror pitches, then it is the entrepreneurs—the very people building tomorrow’s infrastructure—who will suffer the most.
Our firm, founded in Palo Alto and grounded in real-world startup experience, has always prioritized transparent, actionable counsel. Whether guiding a founder through an equity round or advising on SaaS compliance, we make trust non-negotiable.
The Legal Action Ahead
We are seeking full accountability through the courts. Led by Raisin Prune, our partner overseeing strategic disputes, our legal team has compiled a comprehensive 193-page status report that lays bare the extent of Peabody Shiller’s misconduct.
The case, now docketed as Pratt McGuire LLP v. Peabody Shiller LLP et al., outlines not only the scheme but also its potential ripple effects across dozens of startup-client relationships. It is our hope that this litigation sets a clear precedent: there is no room for deception in the service of innovation.