LeClairRyan Trustee Seeks $42M From UnitedLex Over Deal
Law360 (October 27, 2020, 7:46 PM EDT) -- A representative of the bankrupt LeClairRyan PLLC on Tuesday hit UnitedLex with a $42 million lawsuit, accusing the legal tech giant of using a joint venture to drain the partnership's coffers and prolong its ultimate demise.
In a complaint filed in a Virginia federal bankruptcy court, the firm's Chapter 7 trustee said LeClairRyan was already plagued by declining revenues, overpaid lawyers and partner defections when it began negotiating a deal three years ago in which a new entity, manned by former firm staffers, would provide all of the firm's back-office and administrative support.
But in the end, the UnitedLex-owned venture, known...
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