It wasn’t a legal slam dunk, but a Chicago jury on Monday awarded $2 million to former National Basketball Association star Scottie Pippen in a malpractice suit against a law firm that represented him in a business deal that went bad.
Pippen sued the Chicago law firm Pedersen & Houpt for more than $8 million in connection with his ill-fated 2002 purchase of a Gulfstream jet, alleging that the firm did not look out for his financial interests. The lawsuit initially was filed in Cook County, Ill., Circuit Court in 2004, but was stayed for several years while a co-defendant underwent bankruptcy proceedings. Pedersen & Houpt has about 30 attorneys and specializes in counseling startup companies, real estate developers and high-net-worth individuals.
