Ex-Labaton Sucharow Associate Ends $12M Suit for Cut of Fees
A former associate at Labaton Sucharow has ended his suit for a cut of fees earned in the firm’s representation of New Mexico’s state pension funds.
The associate, Jon Adams, had claimed he was owed 10 percent of the $118 million earned by the firm because it got the business after he introduced lawyers there to New Mexico Attorney General Patricia Madrid, the New York Law Journal reports.
But in an affidavit filed last week, Adams said he now realized that Labaton had been selected for the business before he began work at the firm.
The document (PDF posted by the New York Law Journal) also said there was no truth to the suggestion that campaign contributions were part of a “pay-to-play” effort to bring in the work. A Labaton lawyer had begun making campaign contributions to New Mexico Gov. Bill Richardson long before he began working at the law firm, the affidavit said. In any event, Adams said in the affidavit, Richardson was not involved in the selection of the firm.
Further terms of the resolution of the suit were not released.
