RCT FILES $500 MILLION LEGAL MALPRACTICE SUIT AGAINST REED SMITH
On December 21, 2018, RCT filed suit in the New York Supreme Court against Reed Smith LLP on behalf of the Cayman Islands liquidators of the Bear Stearns Funds. The suit alleges legal malpractice, breach of fiduciary duty, and breach of contract claims seeking over $500 million of damages. The claims arise out of, inter alia, Reed Smith’s failure to meet the statute of limitations in a lawsuit it filed on behalf of the liquidators against the credit-rating agencies.
See complaint here.
Prior results do not guarantee a similar outcome.