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: Legal Pad | LAGibson Dunn and former client in fee dispute
By Richard Binder
Elliott Broidy, a venture capitalist and former client of Gibson Dunn & Crutcher, has filed a lawsuit in Los Angeles Superior Court against the firm over $1.3 million in fees Gibson Dunn seeks for representing him.
The firm wants the matter settled in New York, but Broidy says the dispute should be handled in California where his relationship with Gibson Dunn began. The suit also claims that Gibson Dunn is not entitled to any legal fees because it committed fraud by failing to obtain appropriate conflicts waivers while representing him.
Broidy and his Markstone Capital Group private equity firm were both targets of an investigation into "pay to play" investments. As a result of that probe, Broidy admitted to arranging a $250 million investment in Markstone by the New York State Common Retirement Fund. He also admitted to lavishing state officials and people connected to them with trips and gifts worth nearly $1 million in order to orchestrate the investment.
Full story at The Am Law Daily.
Full post as published by Legal Pad | LA on March 19, 2010 (boomark / email).
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