The NYLJ reports today that

"A federal judge in Manhattan has thrown out a lawsuit filed against Paul, Weiss, Rifkind, Wharton & Garrison by the onetime private banker to former WorldCom Inc. chief executive officer Bernard Ebbers.

David H. Trautenberg, the former co-head of Citigroup’s private wealth management group, sued Paul Weiss in December for breach of fiduciary duty, claiming the law firm used against him in severance negotiations confidences it gained while jointly representing him and Citigroup in WorldCom-related matters.

The ex-banker received a $5 million severance package that he claimed would have been $25 million without Paul Weiss’ interference.

But Southern District Judge George Daniels said Mr. Trautenberg had failed to show that "but for" Paul Weiss’ actions, he would have received more money.

The judge noted that Mr. Trautenberg had not alleged in his complaint that Citigroup had ever offered or considered offering a $25 million severance package. The banker’s belief that he was owed that amount based on the book of business he left at Citigroup was "purely speculative," Judge Daniels said. "

We will note the decision later this week.