Law firm lawyer sues firm for compensation
A former bankruptcy partner at Loeb & Loeb says the firm owes him big time.
March 07, 2013 at 06:34 AM
3 minute read
The original version of this story was published on Law.com
A former bankruptcy partner at Loeb & Loeb says the firm owes him big time.
Michael Molinaro said in a suit he filed earlier this week the firm owes him at least $160,000 for services rendered in 2012. Molinaro said that after he changed his title from partner to of counsel in February 2012, the firm's chairman agreed to continue to pay him as an equity partner. Molinaro said the agreement was that the firm would continue to pay him based on his billable hours and collections. He claims he was supposed to receive the same firm profits that other partners who billed similarly received.
But last month, when Molinaro announced he would be leaving Loeb & Loeb to join Reed Smith as partner, things turned south. He claims in his suit that the firm refused to provide him with the 2012 partner pay information and instead proposed to pay him $160,000 if he signed an agreement to continue to work for Loeb “for many months,” according to the suit. Molinaro didn't agree with the terms of the agreement and left Loeb for Reed Smith, where he currently is a partner.
Molinaro has asked Loeb to provide him with the compensation information for firm partners for 2012 so he can calculate his actual 2012 pay, otherwise, they should pay up the $160,000. He is asking for a jury trial.
Loeb maintains it has done nothing wrong. “Mr. Molinaro's lawsuit is without merit, and the firm will defend against his claims in the appropriate forum,” a firm spokeswoman told Thomson Reuters.
Molinaro's lawyer said the former Loeb partner was reluctant to bring suit, but had no choice as the firm has been “stonewalling him” for months.
Read more recent law firm news on InsideCounsel:
Former Senator Jon Kyl joins Covington & Burling
Patton Boggs lays off some of its employees, source tells Thomson Reuters
Dewey liquidation plan wins court approval
Ogletree Deakins, McDermott Will & Emery strengthen practice groups
Law firm profits increased in 2012, K&L Gates posts detailed financial report
Law firm recruiting, succession planning fall flat
King & Spalding, Cleary Gottlieb announce career moves
Law firms saw revenue growth in 2012
Labor suit against Akin Gump dismissed, labor suit filed against WilmerHale
This content has been archived.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
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
‘Extremely Disturbing’: AI Firms Face Class Action by ‘Taskers’ Exposed to Traumatic Content
5 minute read
In-House Lawyers Are Focused on Employment and Cybersecurity Disputes, But Looking Out for Conflict Over AI
Trending Stories
- 1UK Firm Womble Bond to Roll Out AI Tool Across Whole Firm
- 2Starbucks Hands New CLO Hefty Raise, Says He Fosters 'Environment of Courage and Joy'
- 3Blockchain’s Fourth and Fifth Amendment Privacy Paradoxes
- 4Prior Written Notice: Calabrese v. City of Albany
- 5Learning From Experience: The Best and Worst of Years Past
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
