1. Icahn, CVR Lose Malpractice Case Against Wachtell Lipton Law Firm

    Icahn, CVR Lose Malpractice Case Against Wachtell Lipton Law Firm

    NEW YORK (Reuters) - A federal judge in Manhattan on Friday dismissed an unusual lawsuit in which billionaire investor Carl Icahn accused the law firm Wachtell, Lipton, Rosen & Katz of malpractice related to his 2012 hostile takeover of CVR Energy Inc. U.S. District Judge Richard Sullivan said CVR failed to show that Wachtell and two of its partners, Benjamin Roth and Andrew Brownstein, should have disclosed that two banks helping CVR defend against the takeover stood to earn much higher fees if Icahn's bid succeeded than if it failed. By suing, CVR, and thus Icahn, were essentially claiming they ...

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    1. Of course, defendants were not required to read Pici's mind at the risk of a malpractice claim.
    2. Obviously we're disappointed with the court's decision.
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