A former associate at Labaton Sucharow can pursue nearly $12 million in legal fees he claims his ex-employer owes him for his role in bringing in New Mexico’s pension funds as clients, a New York state judge has ruled.

Although Manhattan Supreme Court Justice Barbara Kapnick dismissed a series of claims brought by Jon Adams against Labaton, including fraud, unjust enrichment and negligent misrepresentation, she left in place what she called the “big issue” — Adams’ claim that the firm breached an agreement by not giving him a share of multimillion-dollar fee awards stemming from securities settlements with HealthSouth Corporation, St. Paul Travelers, and other cases.

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