Firm Can't Knock Down NY Rule Barring Nonlawyer Investment

Law360, New York (March 8, 2012, 6:12 PM EST) -- A federal judge on Thursday dismissed Jacoby & Meyers LLP's suit challenging a New York rule barring nonlawyers from investing in law firms, saying a ruling on the case would be an unconstitutional advisory opinion because other laws also prohibit such investments.

U.S. District Judge Lewis A. Kaplan said that even if a section in the New York Rules of Professional Conduct for attorneys were overturned, New York law wouldn't allow the firm's existing limited liability partnership to add nonlawyer partners.

Jacoby & Meyers also proposed...
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Case Information

Case Title

Jacoby & Meyers, LLP et al v. Schneiderman et al


Case Number

1:11-cv-03387

Court

New York Southern

Nature of Suit

Constitutional - State Statute

Judge

Lewis A. Kaplan

Date Filed

May 18, 2011

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