I've talked to Rick over the phone and he seems like a pretty sharp and pretty decent guy. He is on my speed dial. However, many pretty decent lawyers have brought tenuous lawsuits over the years. Some have even had their heads handed to them over the years.
As far as the allegations, which I have not yet see, I will make the preliminary remark that the California Supreme Court has itself even remarked about how plaintiffs often "over plead" their cases to make them more inflammatory and intimidating.
Don't be concerned with the titles of the various causes of action, fraud, misrepresentation, racketeering, etc. Those are just the names of alternate legal theories that lawyers use to describe possible legal theories that would allow them to recover based on their versions of the facts. I've seen a simple auto rear-end accident in which the plaintiff alleged causes of action for negligence, assault, battery, intentional infliction of emotional distress, negligent infliction of emotional distress and conspiracy.
Once I get a copy of the complaint, I'll do an analysis and provide a report.
BTW: I won't say anything bad about Lexington ... they've paid me a great deal of money over the years to settle lawsuits against it