Lathrop & Gage Settles Malpractice Suit For $7.4M

Law360, New York (January 29, 2010, 5:33 PM EST) -- Lathrop & Gage LLP has reportedly agreed to pony up $7.4 million to settle a legal malpractice suit over the firm's representation of Washington Mutual Bank in a trade secrets case that resulted in a whopping $21.5 million verdict against the bank.

The law firm revealed the settlement Monday, agreeing to pay $7.4 million to the Federal Deposit Insurance Corp., which inherited the suit when WaMu fell into receivership in 2008, the Kansas City Business Journal said.

A spokesman for Lathrop & Gage declined to comment...
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