A decision by Southern District Judge Denny Chin to sanction attorneys $400,000 for their aggressive pursuit of a fraud action against the estate of Andy Warhol has been reversed by the Second Circuit.
A unanimous court found that Judge Chin was wrong to find three attorneys and Powell, Goldstein, Frazer & Murphy prosecuted a barely colorable claim in Schlaifer Nance & Co. v. Estate of Andy Warhol, 98-7931.
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