A reprimand and an admonition were imposed by the New Jersey Disciplinary Review Board for, primarily, a business transaction with a client

Neither Brickwall at Campus Town, nor its four Smith Group investors, gave informed consent, confirmed in writing, after full disclosure and consultation with respondents, regarding the advantages and risks involved in a concurrent conflict of interest. Moreover, the respondents did not advise the Smith Group, in writing, of the desirability of seeking independent legal counsel concerning Walrath and Gluck’s investment in the Brickwall at Campus Town project. Consequently, the Smith Group was not given a reasonable opportunity, after receipt of a written advisory, to seek such counsel. However, Walrath and Gluck represented to the OAE that they verbally discussed with James Watt the desirability of having the Smith Group consult with independent counsel prior to the execution of the letter of investment for the Brickwall at Campus Town project. Finally, the members of the Smith Group did not provide informed consent, in writing, signed by each member, regarding the essential terms of the business transaction and the role of Walrath and Gluck in the transaction, including whether respondents were representing the Smith Group in its investment in Brickwall at Campus Town.