Baker Botts Will Have to Face NY Fund Manager’s Fiduciary Claims

Baker Botts LLP will have to face fiduciary breach and unjust enrichment claims from the co-founder of an investment advisory firm who was sentenced to prison, a New York appellate court ruled Thursday.

Judges, affirming a lower court order, denied Baker Botts’ request to dismiss International Investment Group co-founder Martin Silver’s breach of fiduciary duty claims against the firm. The scope of Baker Botts’ representation of Silver “cannot conclusively be established” absent the written retainer agreement, which wasn’t included in the record for the appeal, judges of the New York Supreme Court First Appellate Department said in an unsigned opinion ...