Kasowitz, Benson, Torres & Friedman and a former client have agreed to settle a malpractice suit that alleged the firm’s inaction resulted in a $11.9 million default judgment.
Financier Edwin Yeo III brought suit against the firm last year in the Southern District for malpractice and breach of fiduciary duty. Yeo claimed that Kasowitz agreed to represent him in a March 2010 case in which he was sued by a former colleague at Morgan Stanley, Frederick Whittemore, over fees in a business partnership. In that suit, Whittemore sought to protect or recover the capital contributions he made in the business venture, among other expenses, according to Yeo.
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