A former associate at Labaton Sucharow can pursue nearly $12 million in legal fees he claims his ex-employer owes him for his role in bringing in New Mexico’s pension funds as clients, a New York state judge has ruled.
Although Manhattan Supreme Court Justice Barbara Kapnick (See Profile) dismissed a series of claims brought by Jon Adams against Labaton, including fraud, unjust enrichment and negligent misrepresentation, she left in place what she called the “big issue”—Mr. Adams’ claim that the firm breached an agreement by not giving him a share of multimillion-dollar fee awards stemming from securities settlements with HealthSouth Corporation, St. Paul Travelers, and other cases.
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