Civil Litigation,
Law Practice,
Ethics/Professional Responsibility
Jul. 9, 2019
Irell & Manella sued for professional negligence
A mainstay of southern California legal practice faces claims of professional negligence and fraud over its handling of a 2007 transaction and subsequent litigation it spawned involving private equity behemoth Oaktree Capital Management.
LOS ANGELES -- The plaintiff, energy sector investment group OCM/GFI Power Opportunities Fund II, L.P., alleged in a complaint filed Monday that Irell & Manella LLP's elementary drafting mistake in an acquisition contract harmed the investor in later dealings, as did the law firm's prolonged insistence on the soundness of its allegedly faulty work. The investor, part of Oaktree's corporate private equity division and referred to as "Power Fund II" in the compla...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In