As predicted here almost two years ago, New York-based Weil, Gotshal & Manges settled during the latter stages of an ongoing trial the malpractice claims levied against the firm by the owners of a small New Jersey based retail clothing outlet, according to this Law.com ($) article. The colorful case — which was prompted by Weil Gotshal suing their former clients for $2.7 million in fees — was the subject of this earlier NY Sunday Times article.
Settlement terms were not disclosed as Weil Gotshal released a statement saying that it “settled despite its confidence in the trial outcome to avoid the cost of what would have been an inevitably long appeals process.”