Law Firm In $180M Boston Chicken Settlement

Law360, New York (February 16, 2006, 12:00 AM EST) -- Three investment banks and a major law firm have agreed to pay $180 million to settle allegations they played a role in the embarrassing collapse of once high-flying restaurant chain Boston Chicken Inc.

The banks, Merrill Lynch & Co., Deutsche Bank Securities Inc., Morgan Stanley & Co., were underwriters in the Boston Chicken’s 1993 initial public offering, while New York-based law firm Paul Weiss Rifkind Wharton & Garrison LLP served as legal adviser.

The terms of the settlement were not made public, but provide a stark...
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