Red Zone Hits Cadwalader With $13M Malpractice Suit

Law360, New York (February 7, 2011, 7:39 PM EST) -- Red Zone LLC is seeking $13 million from Cadwalader Wickersham & Taft LLP for its alleged mishandling of an agreement to cap the investment company’s liability to UBS Securities LLC during Red Zone’s 2005 proxy battle with Six Flags Inc.

In a complaint filed Friday in the New York Supreme Court, Red Zone claimed Cadwalader failed to execute an agreement with UBS that would have limited the bank’s fee for helping finance the proxy battle to $2 million unless Red Zone acquired a majority of the...
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