Cadwalader, Wickersham & Taft filed a breach-of-contract lawsuit on behalf of investment management firm Gramercy Advisors against billionaire Shahid R. Kahn on Thursday in New York Southern District Court. The suit pursues claims against Khan — the owner of the Jacksonville Jaguars NFL team and English soccer club Fulham F.C. — for breaching his investment management agreement with Gramercy, in which Khan allegedly agreed to indemnify, hold harmless, and reimburse Gramercy for any litigation costs resulting from certain tax shelter strategies he put in place. Counsel have not yet appeared for the defendant. The case is 1:21-cv-08302, Gramercy Advisors LLC et al v. Khan.
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