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...
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