Paul Weiss, Lowenstein Fined $2M For 'Frivolous' Suit

Law360, New York (August 26, 2010, 2:16 PM EDT) -- A New Jersey judge has ordered Paul Weiss Rifkind Wharton & Garrison LLP and Lowenstein Sandler PC to pay nearly $2 million to their opposing counsel for pursuing a frivolous "promise" claim they filed on behalf of billionaire Ronald O. Perelman, who was seeking to inherit half of his disabled 84-year-old father-in-law's estate.

Judge Ellen L. Koblitz of the New Jersey Superior Court said the $1.96 million hit was levied to discourage the firms from repeating an “objectionable litigation strategy.”

The Paul Weiss team, led by...
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