An investment vehicle closely tied to Washington Redskins owner Daniel Snyder has sued Cadwalader, Wickersham & Taft for $13 million over advice it gave on an investment bank’s fee during a proxy fight at Six Flags Inc. in 2005.
The malpractice lawsuit, filed Monday by Red Zone LLC in Manhattan Supreme Court, followed an October appellate ruling that the company owed UBS A.G. $8 million for its work on the Six Flags matter. While Red Zone said its lawyers at Cadwalader had claimed a contract they secured would limit the fee to $2 million, it did not, the complaint said.
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