Drinker Biddle Dodges Ex-Lehman Broker's Malpractice Suit

Law360, New York (October 24, 2011, 9:06 PM EDT) -- A New York federal judge on Monday tossed a former Lehman Brothers Inc. broker’s malpractice suit alleging Drinker Biddle & Reath LLP’s negligence had resulted in a $2.5 million award against her in an arbitration proceeding accusing her of securities fraud.

Sofia Frankel, a former securities broker at Goldman Sachs Group Inc. and Lehman Brothers, claimed Drinker Biddle’s malpractice caused a Financial Industry Regulatory Authority arbitration panel to find both Frankel and Lehman jointly and severally liable for $2.5 million, even though the claimants had asked...
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