In dismissing Stradley Ronon Stevens & Young’s lawsuit against former client Sovereign Bank, a federal judge has ruled the firm cannot use the Declaratory Judgment Act to pre-empt a state court malpractice filing by Sovereign. Stradley Ronon asked U.S. District Judge Joel H. Slomsky of the Eastern District of Pennsylvania to rule it did not commit legal malpractice when drafting an amendment to a loan agreement for the bank, in hopes of forestalling threats by Sovereign to sue over the $97 million it said it lost because of poor terms in the agreement.
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