In dismissing Stradley Ronon Stevens & Young's lawsuit against former client Sovereign Bank, a federal judge has ruled the firm cannot use the Declaratory Judgment Act to pre-empt a state court malpractice filing by Sovereign. Stradley Ronon asked U.S. District Judge Joel H. Slomsky of the Eastern District of Pennsylvania to rule it did not commit legal malpractice when drafting an amendment to a loan agreement for the bank, in hopes of forestalling threats by Sovereign to sue over the $97 million it said it lost because of poor terms in the agreement.
Judge Tosses Stradley Bid to Pre-empt Bank's Malpractice Action
The Legal Intelligencer
January 18, 2013
This content is now available at LexisNexis®.
The ALM® and LexisNexis® Content Alliance
LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM’s legal news publications. LexisNexis® customers will be able to access and use ALM’s content by subscribing to the LexisNexis® services via lexis.com® and Nexis®. This includes content from The National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM’s other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.
ALM’s content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.
If you are not currently a LexisNexis subscriber, contact 1-800-227-4908 to find out more or click here to have a customer representative contact you directly.