Ex-SecureNet CEO Lobs $192M Suit At Duane Morris

Law360, New York (July 17, 2012, 10:42 PM EDT) -- The former head of payment processing company SecureNet LLC reportedly launched a $192 million suit against Duane Morris LLP on Monday, accusing the firm of giving him bad advice during the sale of a majority interest in the company to a private equity firm.

Former SecureNet CEO Marc Potash accused the firm of negligence and breach of fiduciary duty after learning that George Nemphos, the managing partner of Duane Morris' Baltimore office, had failed to disclose the fact that he had previously represented the company's buyer,...
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