Lawyer liable for Ponzi scheme of client?

A MA Superior Court judge has ruled that the law firm Holland & Knight could not be sued by investors for failing to ensure that one of their clients followed their legal advice (the client ignored his lawyers and proceeded to defraud the investors in a Ponzi scheme--not exactly in keeping with counsel’s advice).

Holding here in essence: lawyers are not mothers and will not be held liable for failing to scold and nag until the job is done well.