The mum or dad firm of two vitality producers, GIT Inc, is searching for $250 million in damages from legislation agency Quinn Emanuel Urquhart & Sullivan, claiming it mismanaged its dealing with of a federal lawsuit two years in the past that resulted in a lack of $136 million.
In a lawsuit filed Thursday in New York County Supreme Court, GIT Inc alleged that Quinn Emanuel was negligent in its defence of a lawsuit filed by UBS AG.
GIT was sued by UBS’s London Branch after two of its associates, HVI Cat Canyon Inc and Rincon Island Limited Partnership, borrowed $100 million and allegedly failed to fulfill any of the funds.
In April 2020, UBS received a abstract judgement in opposition to GIT, shortly after Quinn Emanuel pulled out as GIT’s counsel.
In an announcement, the legislation agency referred to as GIT’S lawsuit frivolous, saying that an arbitrator ordered GIT to pay $958,000 in authorized charges. According to Quinn Emanuel, the lawsuit “attempts to resurrect allegations that GIT had dropped during arbitration.”
“Quinn Emanuel will defend itself against these meritless claims and seek sanctions if necessary,” the agency’s spokesperson commented.