Simpson Thacher Fails To Nix PrediWave Suit

Law360, New York (September 7, 2010, 7:12 PM EDT) -- Simpson Thacher & Bartlett LLP has lost another bid to toss former client PrediWave Corp.'s malpractice suit in relation to an underlying deal that accuses the firm of concealing a massive fraud that allowed the company's CEO to abscond with tens of millions of dollars in ill-gotten funds.

Judge Mark H. Pierce of the Superior Court of the State of California, County of Santa Clara, on Tuesday denied Simpson Thacher's motion to dismiss the suit, ruling that PrediWave had stated viable claims for fraud, malpractice, breach...
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