Marketing Co. Sues Ropes & Gray Over Shareholder Fallout

Law360, New York (September 7, 2012, 10:37 PM EDT) -- The successor to fallen marketing services company EMAK Worldwide Inc. has sued Ropes & Gray LLP, claiming the advice one of its former attorneys gave EMAK relating to a proxy battle contributed to its descent into bankruptcy.

In a suit filed Aug. 30, EMAK Holdings Inc. accuses the law firm of professional negligence after its former attorney Christopher Austin advised it to enter into what turned out to be an illegal transaction that transferred EMAK’s primary preferred stock shareholder into a different series of preferred stock...
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