A Tarnished Friendship

Kirkland & Ellis' competitors must have had a field day in March watching the firm get smacked around first by a judge in Florida and then by Morgan Stanley (see p. 68). The brokerage company not only fired Kirkland from its high-profile fraud case involving Ronald Perelman, but also hinted it might file a malpractice claim.

The fiasco arose after Morgan Stanley failed to turn over discoverable documents to Perelman, who is suing Morgan Stanley for fraud. To punish Morgan Stanley for its "egregious" behavior, the judge ruled the company must now prove it's innocent of Perelman's allegations.

staff Writer

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.