Major legal malpractice litigation is making headlines across the country, and the number of large claims against law firms is on the rise according to insurance industry experts.
Recent headline grabbing cases include: corporate raider Carl Icahn’s suit against Wachtell, Lipton, Rosen & Katz over a $36 million loss related to Icahn’s takeover of CVR Energy Inc.; a suit against Proskauer Rose over $250 million in tax liabilities; and a suit against Fulbright & Jaworski for over $700 million related to advice provided to funds involved in Tom Petters’ $3.5 billion Ponzi scheme.
