Radnor, Pa.-based Airgas Inc. can move forward with its breach of fiduciary duty claims against Cravath Swaine & Moore now that a federal judge in Philadelphia said the company sufficiently pled its case to survive a defense motion for judgment on the pleadings.
U.S. District Court Judge Eduardo C. Robreno ruled that under Pennsylvania law, Airgas sufficiently showed that Cravath had a fiduciary duty to Airgas and sufficiently supported its four damages claims for attorney fees, cost of obtaining new financing counsel, inability to obtain new financing and disgorgement of fees paid to Cravath. Robreno also upheld, at this juncture, Airgas’ claims for punitive damages.
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