Kasowitz, Benson, Torres & Friedman has sued its longtime client Duane Reade Inc. for a $7 million “success fee” it claims it is owed as part of an alternative fee arrangement. (See the complaint.)
The Manhattan-based law firm represented Duane Reade in a contract dispute with Cardtronics LP, an ATM operator. But when the drugstore chain switched general counsel in 2008, it settled the dispute for an estimated $39.5 million without the law firm’s knowledge. Kasowitz claims in court papers that the settlement included terms negotiated by the firm during the course of the litigation, and that it is owed a 20 percent share of the settlement under its alternative fee agreement.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]