Winston Must Face Claims Over $56M Merger: Judge

Law360, New York (July 12, 2011, 5:47 PM EDT) -- A New York state judge ruled Monday that Winston & Strawn LLP must face accusations from a biopharmaceutical company's shareholders that the firm botched drug licensing agreements so badly that it soured the company's $56 million sale to a hedge fund.

Although it was the pharmaceutical company, Biosynexus Inc., and not its shareholders, led by health care investment firm OrbiMed Advisors LLC, that had a retention agreement with Winston & Strawn, the circumstances of the case made an engagement letter unnecessary, Judge Judith J. Gische ruled....
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