Continuing a trend, attorneys not retained by plaintiffs are being sued. Once a mere exception to the general rule of “privity”, more attorneys are being sued for their opinion letters.
Here, Andrews Kurth LLP, http://www.aklip.com has been sued in what is described by Mary Alice Robbins of Texas Lawyer http://www.law.com/jsp/tx as a $90 million dollar suit over the elementary question of whether a wireless service provider, Motient Corp http://www.motient.com had the power to sell stock. Plaintiffs allege that a simple reading of the certificate of incorporation reveals that the sale was prohibited. One party involved in the proceedings said: “This is not the kind of thing that can be fixed afterward.”