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Judge Jennifer Schecter sits as a judge in the Commercial Division in New York County. Photo: David Handschuh/NYLJ

A New York state judge has absolved Brown Rudnick of malpractice allegations brought by banker B. Riley Financial Inc., stemming from Vintage Capital Management’s failed $1.365 billion acquisition of Rent-A-Center in 2018

Manhattan Supreme Court Justice Jennifer Schecter found that B. Riley’s lawyers at Brown Rudnick were not to be blamed by Vintage Capital and the banker’s failure to notify Rent-A-Center that it wished to extend the closing deadline on the deal. The error ultimately allowed Rent-A-Center to secure a $126.5 million termination fee, prompting the litigation.

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Dan Packel

Dan Packel covers change and innovation in the legal services market, and writes a weekly briefing for Law.com, "The Law Firm Disrupted," on these subjects. He is based in Philadelphia. Contact him at [email protected] On Twitter at @packeld

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