A litigation finance company that sued its former law firm for fraud and malpractice was unable to show it was actually harmed, the Seventh Circuit ruled Friday.
Signal Funding sued its former outside counsel, Sugar Felsenthal Grais & Helsinger, claiming one of its attorneys improperly helped a former Signal executive set up her own competing firm.
The ex-executive’s firm poached two potential new clients, Signal claimed.
But even if Sugar Felsenthal violated its duties to Signal, there is no evidence that Signal actually lost any investors as a result, Seventh Circuit Judge Michael Scudder Jr. wrote.
And while Signal claimed ...
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