Cadwalader Off Hook In $13M Malpractice Suit

Law360, New York (June 17, 2011, 7:18 PM EDT) -- A New York state judge on Wednesday dismissed a $13 million legal malpractice suit against Cadwalader Wickersham & Taft LLP stemming from an alleged agreement it had with Red Zone LLC during the investment firm's proxy fight for Six Flags Inc.

Red Zone had claimed Cadwalader failed to execute an agreement with UBS AG that would have limited the bank’s fee for helping finance the proxy battle to $2 million unless Red Zone acquired a majority of the amusement park chain’s voting stock.

But Judge Melvin...
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