Tuesday, February 27, 2007

Hunton & Williams sued by former partner

An interesting lawsuit was filed in DC Superior Court against Hunton & Williams by a former partner. According to the detailed lawsuit, a copy of which is available here, the former partner had a capital account in the amount of approximately $150k at the end of the fiscal year, March 31, 2006. However, between then and June 30, 2006, the date of the partner's withdrawal, H&W claimed a loss of $17 MILLION during that three-month period. The partner's share of that loss was approximately $130k leaving a balance owed to him of $20k, payable in equal installments over the next 20 quarters. Got that? Makes for interesting reading, and the Complaint even includes the H&W partnership agreement.