Friday, November 12, 2004
Two former partners of Fish & Neave have sued the New York IP firm for $2.4 million in the wake of its announced merger with Ropes & Gray. Edward Bailey (F&N's former managing partner) and Kevin Culligan, who are now partners at King & Spaulding, charge their old firm with breach of contract and breach of fiduciary duty.
The lawsuit, filed Wednesday, claims that that F&N amended its partnership agreement in May to penalize ex-partners and avoid having to return their capital contributions. Bailey and Culligan are seeking an injunction to prevent certain F&N assets from being turned over to the newly merged firm unless F&N set aside enough assets to cover the claim.