Alston & Bird Settles Multimillion-Dollar Legal Mal Suit
The complaint alleged that the firm caused a onetime employee of the widow of late Coca-Cola CEO Roberto Goizuega to lose tens of millions of dollars in gifts and bequests from Olga Goizuega and cost her millions more in tax judgments and fines.
April 19, 2018 at 07:32 PM
5 minute read
The original version of this story was published on Daily Report
Alston & Bird has reached a confidential settlement in a legal malpractice suit that sought tens of millions of dollars by a former employee and confidante of the late Olga Goizueta, widow of former Coca-Cola chairman and CEO Roberto Goizueta.
The complaint, filed in Fulton County Superior Court in 2016, said Alston & Bird had handled the affairs of both Olga Goizueta and plaintiff Katherine Stearns prior to Goizueta's death in 2015. Roberto Goizueta died in 1997, leaving an estate worth over $1 billion.
Then, Stearns said, in an effort to ingratiate itself with Goizueta's children, the firm used its knowledge of the women's affairs to orchestrate “sham” investigations into millions of dollars in gifts and bequests the wealthy widow gave her.
Stearns' suit sought more than $35 million, including $10 million in gifts she was forced to return, and $25 million in bequests that were revoked before Goizueta's death as the result of the firm's actions.
She also said she lost $3.2 million due from a termination agreement, and spent more than $1 million in legal fees fighting the Internal Revenue Service and litigating a suit Goizueta filed against her in DeKalb County that was dismissed with prejudice in 2013.
She also blamed the firm for an Internal Revenue Service assessment for nearly $8 million in taxes and penalties.
On April 11, Judge Shawn LaGrua entered an order saying the parties settled the case during mediation on March 29.
Stearns was represented by Atlanta solo Bruce Brown, and Andrew Beal and Nicholas Smith of Buckley Beal. Brown said he did not have permission to discuss the case.
Alston & Bird was represented by Thomas Curvin, Melissa Fox and Amanda Griffin of Eversheds Sutherland. Neither they nor Alston & Bird general counsel Steven Collins responded to requests for comment.
Collins previously said the firm owed no duty to Stearns when the lawsuit was filed.
“Ms. Stearns alleges that our firm breached duties to her by investigating her conduct as an employee of a firm client, and by pursuing claims against her on behalf of that client. We deny any liability,” said Collins at the time.
According to the complaint, Stearns was a high-level employee with the Atlanta Archdiocese in 2006 when Goizueta hired her to “assist with the coordination of her advisers, and her everyday professional and personal needs.”
Goizueta reportedly showered Stearns with gifts and bequests, and she retained Alston & Bird to manage her own estate and legal affairs. Until 2012 the firm oversaw multiple transactions between Goizueta and Stearns.
Goizueta often funneled her gifts of money, property and construction work through a contractor to keep her children from finding out about them, the complaint said.
When the heirs found out about the arrangement, “rather than standing up and acknowledging that it knew of the gifts and that they were proper,” Alston & Bird accused Stearns and the contractor of embezzling the funds.
That tactic allowed Alston & Bird to claim it had no knowledge of the transfers, and thus failed to advise Goizueta to pay gift taxes on them.
In July 2012, an Alston & Bird partner escorted Stearns out of Goizueta's home and told her she was being suspended pending an audit and investigation. Alston & Bird filed the DeKalb County action on Goizueta's behalf the next month.
Stearns' just-dismissed suit included claims for breach of fiduciary duty, professional negligence, negligent misrepresentation, conversion, tortious and intentional interference with contract and economic expectancy and fraud.
The Goizuetas' bequests have spawned other litigation as well. Last month, the Georgia Court of Appeals splintered in a case involving claims by 14 people who worked for them. They claim that two Goizueta children improperly forced Olga Goizueta to change a trust document so that it eliminated her intention to bequeath about $5.4 million to the ex-workers.
On March 16, the Georgia Court of Appeals voted 10-4 largely in favor of the Goizueta children, upholding a provision in a trust created by Olga Goizueta that forfeits any allotment for a beneficiary who challenges the validity of the trust.
A majority of states void such “in terrorem” or “no contest” provisions when beneficiaries have probable cause to claim something in the trust is amiss, one dissenting judge wrote.
But the majority ruled that Georgia state law allows such clauses to be enforced.
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
© 2024 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 AllHow a Kirkland Partner Relied on 2 Lean Teams During Simultaneous Weeklong Arbitrations on Either Coast
Selendy Gay Elsberg's Rajat Rana Aims to Bring Some Trial Lawyer Approaches to Investment Treaty Arbitration
Litigator of the Week: King & Spalding Wins $1B-Plus Construction Arbitration Award for Colombian Oil Refinery
International Arbitration Expert by Day. Thriller Author by Flight.
Trending Stories
- 1IRE Physicians Must Consider All Conditions 'Due to' a Work Injury
- 2Social Media Policy for Judges Provides Guidance in a Changing World
- 3Demonizing Haitian Immigrants: Welcome to the Club
- 4Florida Hurricane Relief—IRS Offers Extended Deadlines and Tax Benefits
- 5How I Made Office Managing Partner: 'When the Firm Needs Something Done, Raise Your Hand,' Says Eric Kennedy of Buchalter
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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