Morrison & Foerster Settles Macquarie's $35M Puda Coal Malpractice Suit
The apparent settlement comes less than two years after the malpractice suit was revived by a New York appellate court.
July 10, 2019 at 01:18 PM
3 minute read
Morrison & Foerster has settled a $35 million legal malpractice lawsuit brought by a unit of the Australian investment bank Macquarie that claimed the law firm failed to spot red flags in its work on a Chinese coal company's stock offering, according to court papers.
The apparent settlement, in a four-year-old high-profile case against the Am Law 100 firm, comes less than two years after the malpractice suit was revived by a New York appellate court.
In a Monday filing, the parties told Manhattan Supreme Court Justice Saliann Scarpulla that they wanted to put off a conference set for Wednesday because “the parties have reached a settlement.” A letter filed a month before mentioned a settlement in principle. The settlement has not previously been reported.
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