Law360 reports on ESOP legal malpractice complaint filed by firm
Law360 published a news article on a legal malpractice complaint filed by Seth J. Robbins and Ian J. Pinta in federal court in Massachusetts on behalf of Boston-based cleaning and maintenance companies against a law firm that specializes in employee stock ownership plan transactions.
The complaint alleges that the Pennsylvania law firm and an attorney at the firm at the time of the 2015 transaction committed several errors resulting in substantial tax liabilities. Among the allegations in the complaint is that the firm and the attorney handling the matter allowed, after the ESOP transaction closed, excess income to be subject to double taxation, and also subjected the owner of the companies to additional long-term capital gains taxes.
Mr. Robbins, a partner at the firm, maintains a diverse complex commercial litigation practice. Mr. Pinta, also a partner at the firm, concentrates his practice on complex business and general litigation.