Southern District Judge Lewis A. Kaplan (See Profile) said on Feb. 7 that he would either dismiss for lack of standing a challenge by Jacoby & Meyers to a state ban on law firms accepting equity investors, or he would abstain from hearing the matter.
At a hearing on New York state’s motion to dismiss the firm’s challenge to New York Rule of Professional Conduct 5.4, Judge Kaplan said Jacoby & Meyers had failed to meet one of the requirements for standing because it had yet to show it had a redressable injury (See papers filed by Jacoby & Meyers in opposition of motion).
