Cerberus Rips Ruling In Paul Hastings Malpractice Case

Law360, New York (February 19, 2013, 8:44 PM EST) -- A Cerberus Capital Management LP affiliate told a New York state appeals court Tuesday that a lower court didn't need expert testimony to find that Paul Hastings LLP mismanaged the private equity firm's bid to acquire the assets of a bankrupt retailer.

Stuart L. Shapiro of Shapiro Forman Allen & Sava LLP, who represents Cerberus affiliate Ableco Finance LLC, told a five-judge appellate panel during a hearing that Judge Shirley Werner Kornreich should have granted Ableco summary judgment in the legal malpractice case instead of finding...
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