A consortium of venture capitalists say a misdrafted paragraph regarding the sale of stock shares cost them millions of dollars, and they are suing Alston & Bird over the alleged error. The 11-count suit, which includes charges of legal malpractice, breach of fiduciary duty, breach of contract and unjust enrichment, also names Alston & Bird partners W.W. Thomas Carter III and Randolph A. Moore, who are alleged to have made a mistake in drawing up the funding agreement. The suit seeks more than $6 million.
May 15, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A consortium of venture capitalists say a misdrafted paragraph regarding the sale of stock shares cost them millions of dollars, and they are suing Alston & Bird over the alleged mistake.
Alston & Bird partners W.W. Thomas Carter III and Randolph A. Moore III are named in the suit, along with their firm. The two are alleged to have made a mistake in drawing up the funding agreement in October 2000.
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