A federal judge in Philadelphia agreed to stay proceedings in a fight between Radnor, Pa.-based Airgas and its former law firm Cravath Swaine & Moore until Delaware’s Chancery Court decides whether the law firm should be enjoined from representing Airgas competitor Air Products & Chemicals in its bid to take over Airgas.
Both companies had been clients of Cravath’s for years. Airgas alleges Cravath dumped the company as a client after nine years in order to represent a 40-year client, Air Products, in the deal. Airgas also alleges Cravath was working on financing deals with Airgas at the same time it was advising Air Products in the transaction.
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