The complaint alleges that while representing the two feeder hedge funds, Reed Smith missed a key deadline for bringing a potentially lucrative lawsuit against Standard & Poors, Moody's and Fitch Ratings. (Photo: Diego M. Radzinschi/ALM)
Liquidators for a pair of defunct Bear Stearns investment funds sued Reed Smith on Tuesday alleging malpractice, seeking $500 million in damages and saying the law firm muffed a financial crisis era lawsuit against the major credit rating agencies.
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Scott Flaherty
Scott Flaherty, based in New York, covers the business of law with a focus on legal ethics, lawyer misconduct, conflicts-of-interest and litigation involving law firms. He can be reached at [email protected]. On Twitter: @sflaherty18
