Baker Botts Dodges Bullet Over Estate

Law360, New York (February 15, 2007, 12:00 AM EST) -- A Texas appellate court has tossed out a $71 million judgment against Baker Botts LLP and Wells Fargo Bank NA stemming from a breach-of-fiduciary duty dispute over a Houston bigwig’s estate.

On Wednesday, the Texas Fourth Court of Appeals ruled that the law firm and bank did not have to shell out millions of dollars to the widow of Floyd Callioux, overturning a state court decision handed down in 2005.

“In light of [the] failure to prove causation, we must reverse the judgment of the trial...
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