Lawsuits Take Toll On Mayer Brown

Law360, New York (November 4, 2008, 12:00 AM EST) -- After paying out a nearly $100 million settlement in 2005 and facing three civil lawsuits related to Refco, Mayer Brown LLP’s malpractice coverage is reportedly wearing thin.

Four former partners said that the firm’s coverage “may be strained” by the impending lawsuits and expensive settlement, The American Lawyer reported.

The partners claim that part of a $100 million settlement with Commercial Financial Services Inc. was not covered by insurance and that then-general counsel James Holzhauer warned partners that the firm’s insurance may not be able to...
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