Airgas, Inc. v. Cravath, Swaine and Moore LLP
United States District Court for the Eastern District of Pennsylvania
2010 U.S. Dist. LEXIS 78162 (2010)

- Written by Rich Walter, JD
Facts
Airgas, Inc. (plaintiff) sued its former legal advisors, Cravath, Swaine and Moore LLP (Cravath) (defendant), for breach of fiduciary duty. The federal-court diversity case was governed by Pennsylvania law. Airgas alleged that Cravath, while continuing to provide legal services for Airgas and without prior disclosure, agreed to represent Airgas’s rival in an attempted hostile takeover. Airgas further alleged that by doing so, Cravath forced Airgas to (1) incur the expense of hiring lawyers to enforce Cravath’s ethical and fiduciary obligations, (2) incur the expense of replacing Cravath as its legal counsel, (3) forego new financing opportunities in the face of its rival’s takeover threat, and (4) seek reimbursement for the fees it paid for Cravath’s compromised legal services. Cravath moved for judgment on the pleadings.
Rule of Law
Issue
Holding and Reasoning (Robreno, J.)
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