A private equity firm that last week entered into a multimillion-dollar settlement agreement with the New York attorney general over its role in the state pension fund scandal is embroiled in a fee dispute with Gibson Dunn & Crutcher, refusing to pay the law firm more than $1.3 million.
Gibson Dunn said it represented Markstone Capital Group LLC and its chairman, Elliott Broidy, for two years during an investigation by Attorney General Andrew Cuomo into the fund’s role in a pay-to-play scandal at the New York State Common Retirement Fund. Gibson Dunn, which was replaced as counsel late last year, said in court papers that not only had Markstone refused to pay its fees but also did not give the firm “accurate and complete information” during its representation.
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