James Maiwurm, Squire Sanders’ chairman, was waiting for a flight at National Airport in Washington, D.C., at 9 in the morning on May 22 when his cellphone rang. On the line was a D.C. partner with alarming news: Someone was subverting the firm’s plans to merge with Patton Boggs. Specifically, former clients of Patton Boggs were challenging a settlement that Patton and Chevron Corporation struck over fraud allegations related to Patton’s role in bringing a multibillion-dollar suit against the oil company in Ecuador.
The call came at a particularly awkward moment: Squire partners were in the final hours of a three-day vote on a merger with the D.C. firm. If Patton Boggs’ former clients convinced a judge to reopen the settlement, that firm would face renewed litigation and the potential for a much larger financial hit—and in a merged firm, so would legacy Squire partners.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
