In a legal malpractice case, a Manhattan Supreme Court justice has awarded a former client of Cadwalader, Wickersham & Taft more than $16.7 million against the law firm.
Cadwalader represented Red Zone, an investment vehicle run by Washington Redskins owner Daniel Snyder, in a potential transaction with Six Flags in 2005. Red Zone brought suit against the firm in 2011, asserting it failed to properly carry out its instructions to ensure a letter agreement between Red Zone and UBS Securities LLC memorialized an oral agreement to limit Red Zone’s liability for fees to UBS for the Six Flags transaction.
