Offshore oil drilling rig Conflict of Interest: Small Houston Law Firm Snared in Dispute Between Oil Magnates
The boutique firm faces a breach-of-fiduciary-duty lawsuit.
January 20, 2023 at 04:29 PM
5 minute read
Legal Malpractice
A small tax and wealth management law firm is defending itself in a breach-of-fiduciary-duty lawsuit that resulted from its relationship with two oil magnates who are in litigation over the alleged fraudulent transfer of securities.
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Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
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