Law Firm Loses Jury Trial Over Banking Deal

Law360, New York (June 20, 2007, 12:00 AM EDT) -- Law firm Parker Chapin Flattau & Klimpl LLP was slapped with a $7 million verdict after a New York City jury found that one of its former partners had breached fiduciary duty in a $42 million investment banking deal.

In a verdict handed down on Tuesday, the jury ruled that former Parker Chapin partner Henry I. Rothman breached fiduciary duty by secretly representing one member of a three-member syndicate represented by the firm in connection with a $42 million Israeli investment banking deal.

The jury found...
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