2nd Circ. Affirms Toss Of Paul Weiss Malpractice Suit

Law360, New York (February 18, 2011, 5:41 PM EST) -- The Second Circuit on Friday affirmed the dismissal of MIG Inc.'s suit accusing Paul Weiss Rifkind Wharton & Garrison LLP of improperly drafting a certificate of designation that spurred a shareholder suit leading to the telecom's bankruptcy.

In a two-page summary order, the U.S. Court of Appeals for the Second Circuit affirmed a judge's “well-reasoned” opinion that New York's three-year statute of limitations barred the malpractice claim related to the COD for MIG's preferred stock issuance in 1997.

The order comes after MIG argued before the...
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