Anything for a fee? A look at CD&P’s role in the NimsTec fiasco

If investors who pumped $2.6 million into Bermuda-based hi-tech firm NimsTec on the basis of misleading and inaccurate information are looking for someone to sue for negligence, they could do worse than to explore the role of law firm Conyers Dill & Pearman in helping NimsTec to raise capital.
Before parting with their funds, investors in NimsTec who bought shares in two private placements were assured by NimsTec’s officers and directors – who included CD&P partners – that no material facts were omitted from a share prospectus and that “all reasonable care” had been taken in its compilation.
However, we can reveal that CD&P should have known about the appalling track record of NimsTec’s 3-D camera and printing technology and its management that was not disclosed to investors because the law firm previously represented a similar company called Nimslo.