A judge has dismissed an investment bank’s malpractice suit against Morrison & Foerster claiming the law firm failed to conduct due diligence that would have uncovered fraud in a public offering.
Manhattan Supreme Court Justice Saliann Scarpulla found that because Macquarie Capital had the same information in a Kroll investigation report as MoFo, it couldn’t claim the law firm’s failures were the cause of the bank’s damages.
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