We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Orrick Resolves $95M Malpractice Claims Over CDO Deal

Law360, Dallas (November 30, 2012, 12:08 PM EST) -- Orrick Herrington & Sutcliffe LLP has settled former client Highland Financial Partners LP's malpractice suit alleging the firm cost it $95 million when Orrick failed to mention a termination provision in a collateralized debt obligation deal, attorneys confirmed Friday.

The suit, filed in January in Texas state court, claimed the firm failed to tell the hedge fund that Royal Bank of Scotland Group PLC could cancel the CDO at will. The fund claimed it lost out on $65 million it paid to extend a deadline for...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.