A liquidation trustee for a bankrupt “anti-woke” fintech startup is pushing back against Winston & Strawn LLP’s bid to dismiss a $1.7 billion lawsuit accusing the firm of breaching its fiduciary duties.
The law firm asked the court “to create a blanket immunity” that would allow corporate lawyers to intentionally ignore and breach their clients’ fiduciary obligations without consequence, Chapter 7 trustee Scott M. Seidel argued in a Dec. 5 brief in the US Bankruptcy Court for the Northern District of Texas.
If the firm’s position is accepted, a corporate lawyer could “evade liability simply by claiming, ‘the company’s CEO ...
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