Sunday, May 18, 2014

A Jury Rules on a Conflicts Allegation...

"$40.5 million verdict fades quickly, to the relief of Baker Botts law firm" --
  • "A chill swept through lawyers with Baker Botts on Thursday when a Dallas jury ruled that the firm acted negligently more than a decade ago when it represented two competing technology companies vying for similar patent protections but didn't disclose the potential conflict to its client."
  • "The jury set damages against Baker Botts at $40.5 million, which is about 8 percent of the Houston-based firm's reported revenue in 2013. But 30 seconds later, dismay turned to relief when the five-woman, one-man panel also found that Addison-based Axcess International waited at least one year too long to file its lawsuit against Baker Botts. And, as a result, the 700-lawyer firm likely will not have to pay a dime."
  • "Lawyers on both sides plan to appeal the mixed verdict."
  • "'We continue to believe that we lived up to the highest ethical standard and that the claims against us were unjust,' Baker Botts general counsel George Lamb said. 'The jury has entered a mixed verdict, but we are very pleased the verdict will result in a judgment in favor of Baker Botts.'"
  • "Axcess will appeal the jury's decision that the company failed to file its suit within Texas' statute of limitations for such claims, while Baker Botts will appeal the ruling it was negligent, lawyers said."
For more detail and history of the case, see the complete story in the Houston Chronicle, and additional coverage via Law.com.

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