Jun 14, 2010
Firm Disqualified From $285 Million Lehman Case Over Notice of Conflict
Finding inadequate a law firm’s efforts to isolate a newly hired partner from a potential conflict, a New York state judge has said he will “reluctantly” disqualify the litigation boutique from representing a client in an arbitration against former Lehman Brothers Holdings employees. After the arbitration proceedings had been brought before the Financial Industry Regulatory Authority, Kobre & Kim hired a former federal prosecutor who had been involved in a criminal probe of the bank’s sale of auction-rate securities.