Proskauer’s effort to keep away from trial in a $636 million malpractice declare failed yesterday as Suffolk County Superior Court docket Justice Kenneth Salinger denied the Biglaw agency’s movement for abstract judgment. There are a number of causes specified by the order, although one element that doesn’t earn a starring function within the opinion is likely to be essentially the most problematic for the agency.
The motion, introduced by former Proskauer shopper Robert Adelman, alleges that he missed out on his share of a multibillion-dollar hedge fund as a result of the underlying settlement allowed the fund’s supervisor to unceremoniously boot Adelman. Now represented by Susman Godfrey, Adelman blames Proskauer attorneys for overlooking the offending clause. Per Reuters:
Adelman accused the agency of committing a “botched cut-and-paste” job with the partnership settlement. He cited handwritten notes from Proskauer associate Sarah Cherry, who allegedly drew brackets round the important thing provision that gave Aghazadeh broad authority and wrote the phrase “fuck” subsequent to it, indicating a mistake.
Perhaps they have been simply admiring their work. You realize… like, “fuuuuuck, man!” One thing like that? No? Fantastic.
For its half, Proskauer, represented by Williams & Connolly, argued that it may possibly’t be blamed for the actions of the fund’s supervisor. That the fund’s supervisor might solely take these actions primarily based on the clause within the settlement apparently loomed a bit bigger for the courtroom. At the least massive sufficient to show over to a jury.
The case advances to a July pre-trial convention until the events work out a settlement.
In the event that they do settle, possibly give that settlement a superb once-over earlier than signing.
Full order on the following web page…
Legislation agency Proskauer should face trial in $636 million authorized malpractice case [Reuters]