Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Friday, November 2, 2007

Charter Sues Former Law Firm for Associate's Mistake

Charter Communications can sue its former law firm, Irell & Manella, for malpractice, a federal district court judge ruled, despite the law firm's claim that it could not mount an effective defense.  Charter was founded by Microsoft's Paul Allen, and Allen, not a party to the lawsuit, is a client of Irell.  Charter alleges that because of a mistake by an Irell associate Allen ended up purchasing a different kind of security and owning a smaller-than-expected amount in another corporation, resulting in $150 million in damages.  CFO.com, Green Light for Legal Malpractice Suit.

http://lawprofessors.typepad.com/securities/2007/11/charter-sues-fo.html

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