Defense Verdict in Favor of Law Firm that Handled Sale of Internet Business

Successfully defended law firm charged with malpractice stemming from its representation of former client in the sale of an internet business. The former client charged that the law firm failed to provide for a “cashless exercise” of securities that were given in exchange for the business, thereby triggering a one-year holding period under applicable securities laws before the securities could be sold. After a two-week trial, a jury returned a “not guilty” verdict that was later upheld on appeal.  Ritchey v. Nations, Illinois Appellate Case No. 1-04-3889 (1st Dist. 2006)