Investment Firm Sues Attorney Over Corporate Dispute

Case Overview

This case involves an investment firm in Washington that decided to litigate against the law firm that formerly represented it. Initially, there was a misunderstanding over the annual fees the capital market investment firm owed to an investment bank, where the firm believed an oral agreement to cap the bank’s fees nine years prior led to the draft of a side agreement facilitated by the investment firm’s lawyer. During the first trial, the court ruled that the agreement was nullified and that the investment firm was required to pay the bank a much higher fee. Additionally, a lawyer representing the investment firm testified that he had told the firm their oral agreement was ambiguous, after stating prior to the trial that he had seen a handshake in agreement of limiting the bank’s fees.