Appeals Court Revives Ex-Client's $2.8M Case Against Willkie Farr & Gallagher
The firm can't shake a former financial industry client's breach of fiducuary claim related to a FINRA investigation, the First Department ruled.
July 25, 2017 at 06:03 PM
4 minute read
A New York appeals court has revived a claim against Willkie Farr & Gallagher brought by a former client who alleges the firm breached ethical rules in a conflict of interest that resulted in $2.8 million in damages.
The Appellate Division, First Department, affirmed the dismissal of several claims from the 2013 lawsuit, but reinstated one claim, breach of fiduciary duty, finding the firm's ex-client presented evidence of a “continuing wrong” that altered the statute of limitations.
Evidence in the case was “sufficient for a factfinder to determine that defendant breached its duty of loyalty,” the court ruled.
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