Complex Legal Malpractice Case Dismissed.
On the eve of trial, we obtained summary judgment for our attorney-client, dismissing a complex legal malpractice case in which damages were sought in connection with the underlying land transaction. This case included allegations that our client had multiple conflicts. The plaintiffs’ claim for damages included an allegation of $8 million in lost profits due to our client advising the plaintiffs to sell out of this business deal early, while another client of the attorney made $40 million in this deal! We were successful in obtaining dismissal by demonstrating that the plaintiffs’ experts could not prove their lost profit claim due to New Jersey’s New Business Rule and due to the fact that they could not prove any out-of-pocket damages in this case.