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A Manhattan appellate court has allowed a legal malpractice suit to proceed against Shearman & Sterling over the New York law firm's alleged failure to perfect a priority security interest for a private investor. The New York Appellate Division, 1st Department ruled that James Garten had adequately pleaded his malpractice claim alleging that Shearman inadequately advised him on a $750,000 loan he agreed to make to Pacific Jet, a Las Vegas air charter company that filed for bankruptcy in 2005.
June 06, 2008 at 12:00 AM
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The original version of this story was published on Law.Com
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