Business briefs

LIABLE FOR $2.7 MILLION A New Jersey firm is liable for half of the awarded damages of $5.4 million in a suit brought by a Miami developer claiming it was cheated out of its interest in a shopping center project. The developer claimed that Wilentz, Goldman & Spitzer of Woodbridge failed to notify him about a deal that diluted his ownership stake, among other things. The verdict by an Essex County, N.J., jury is one of the largest legal malpractice cases ever lost by a New Jersey firm. Wilentz’s defense counsel said the firm will ask the judge to throw out the verdict and if that fails, it will appeal. Froom v. Perel, No. ESX-L-1504-99.

SATISFIED CUSTOMERS More than 80% of in-house attorneys are satisfied with work by outside counsel, according to a survey by Kirkpatrick & Lockhart of 106 Fortune 1,000 senior in-house counsel. “The survey debunks the myth that in-house counsel are dissatisfied with the value of work they receive from their outside counsel,” the firm’s press release said. The firm said that nearly half of those polled said controlling the costs of outside counsel is their most difficult financial challenge. Another finding: Twenty-two percent of those polled said they expect corporate governance to be the most challenging area in 2003. The report can be found at www.kl.com.