J&J Heir's $140M Tax Advice Suit Too Late, Proskauer Says

Law360, New York (July 16, 2012, 2:39 PM EDT) -- A Proskauer Rose LLP attorney told a New York state judge Monday that it was too late for a grandson of a Johnson & Johnson co-founder to sue over allegedly bad advice the firm gave him about selling his J&J shares.

David M. Lederkramer of Proskauer Rose told Judge Lawrence K. Marks that the firm didn't continually represent Johnson heir John Seward Johnson Jr. from the time he set up the tax deal to when the Internal Revenue Service said the deal was shady years later....
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