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Lawsuit of the Day: Partner Booted From Three Firms Sues 'Em All!

Grab your cup of coffee (or your bottle of Jeremiah Weed Sweet Tea Vodka -- we don't judge) and get comfy. Today's lawsuit of the day is a fun one.

3 hats This article in the New York Law Journal describes, in a good bit of detail, the lawsuit brought by Joel S. Finkelstein against the three law firms in which he was a partner and the other partners thereof, including his brother. According to the complaint, Finkelstein was duped into attending a meeting this summer, allegedly to discuss the firms' financial condition. When he got there, he was unceremoniously shown the door. And he's looking for the $7 million plus that he claims he's owed under the partnership agreements of the three firms.

Speaking of which, the partnership agreements are attached as exhibits to the complaint and make for some interesting reading. Especially because one of the firms in question is the venerable Jacoby & Meyers. (The other two are Finkelstein & Partners and Fine, Olin & Anderman.)

Without opining as to whether, and if so, how badly, Finkelstein got screwed, I have to wonder: Is this kind of arrangement common? Are there a bunch of attorneys out there holding themselves out as "partners" in multiple firms? Is this ethical? Andrew Finkelstein's bios on the Finkelstein & Partners and FOA websites, respectively, don't disclose his membership in the other firms. Enlighten me in the comments please.

Posted by Eric Lipman on October 5, 2010 at 11:23 AM | Permalink | Comments (2)

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