There are plenty of questions hanging over the lawsuit that Mylan Inc. filed against Kirkland & Ellis late last week.
Did Kirkland really ignore a conflict of interest when it agreed to advise Teva Pharmaceutical Industries Ltd. in its ongoing hostile takeover bid for Mylan, a former firm client? Are Mylan and its lawyers at Cravath, Swaine & Moore just seeking to buy time in the M&A fight—perhaps taking a page from Cravath’s own experience in the takeover battle for Airgas Inc.? Is the whole M&A advisory industry a hopelessly tangled web of conflicts to begin with?
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