Paul Hastings is facing malpractice claims in a new lawsuit by a California biotechnology company alleging the firm’s lawyers botched the company board’s attempt to oust its founder.
Redwood Liquidating Co. lost $300 million in value and ultimately went bankrupt because of the mistakes by Paul Hastings lawyers, it said in a June 30 complaint filed in Los Angeles.
The company, formerly known as GenapSys, Inc., said it hired Paul Hastings in early 2021 to implement corporate governance reforms to “sideline” the company’s founder, Hesaam Esfandyarpour, so it could “continue commercialization” under new leadership.
That new leadership included appointment of ...
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