Proskauer Fights To Dismiss J&J Heir's $140M Suit

Law360, New York (February 13, 2012, 7:11 PM EST) -- Proskauer Rose LLP said Friday that a $140 million lawsuit over allegedly bad tax advice it gave a Johnson & Johnson co-founder's grandson about selling his J&J shares should be dismissed because the firm stopped representing him after 2001.

John Seward Johnson Jr., a grandson of J&J co-founder Robert Wood Johnson, and his wife allege in New York state court that the firm fouled up transactions that were meant to reduce their tax liabilities from selling J&J shares, resulting in violations of Internal Revenue Service regulations...
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