A bankrupt outdoor furniture distributor has sued DLA Piper, claiming the firm failed to properly advise it in transactions and subsequent litigation with a Taiwanese company.
Joseph DelGreco & Co. Inc., a privately owned New York corporation that filed for Chapter 11 in October 2009, sued DLA Piper (pdf) earlier this month in Manhattan Supreme Court, claiming the law firm’s negligence resulted in financial losses that propelled the company into bankruptcy. Among other things, DelGreco claims DLA failed to advise it of the consequences of a minor default on a loan and also pressured DelGreco to let the firm withdraw as counsel on the eve of a multimillion-dollar arbitration.
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