I just received a report of a $103 million compensatory damages verdict today in the Circuit Court of Jones County against a Texas law firm for legal malpractice. The law firm allegedly represented both sides of a transaction, disregarded the instructions of the plaintiff and caused the plaintiff (a millionaire) to lose almost everything.

Eric Tiebauer of Waynesboro reportedly represents the plaintiff. I will have more information as it becomes available.

10:00 p.m. Update: New info. on this massive verdict is being posted in the comments section. The style of the case was Evans v. Baker & McKenzie, which is one of the largest law firms in the world with over 3,000 lawyers. The largest group of lawyers appear to be in the Chicago office.

Michael J. Shemper of Hattiesburg and Laurence E. Best and Peter S. Koeppel of Best Koeppel, New Orleans, for Cross-Plaintiffs, Laredo Energy Holdings, LLC, and its subsidiaries, obtained $22.4 M of that verdict for their clients.

The newly released Mississippi Jury Verdict Reporter will report on the verdict and I will post more information as I get it.

6:00 p.m. Saturday update:  The Baker & McKenzie lawyer who was the defendant in the case has been identified as Joel Held in the firm’s Dallas office. The firm’s web site states that Mr. Held is a 1964 graduate of the Boston University law school and lists the focus of his practice as:

 Mr. Held regularly represents securities issuers and individuals and a variety of broker dealers in investigations, enforcement matters, regulatory issues, litigation and compliance matters. He also handles private litigation, particularly those involving securities class action defense and securities-related matters. Additionally, Mr. Held provides sound counsel on public offerings, private placements, mergers, acquisitions, leveraged buy-outs, reorganizations, other types of business combinations, formations and transactions, as well as joint ventures and partnerships.
 

 

  • Evans v. Baker McKenzie, 2008-979CV11
    Mark Nelson, Bryan Nelson, Jackson and Tiebauer for plaintiff.
    Liskow & Lewis, New Orleans, among others for the law firm.

  • Michael J. Shemper of Hattiesburg and Laurence E. Best and Peter S. Koeppel of Best Koeppel, New Orleans, for Cross-Plaintiffs, Laredo Energy Holdings, LLC, and its subsidiaries, obtained $22.4 M of that verdict for their clients.

  • I was studying the file in Meridian on Wednesday and saw the last volume (just that one) and didn’t see enough to see how it was aligned, that is, who exactly was Laron Evans, who was Laredo Energy and what did Baker McKenzie screw up! Purportedly.
    Congratulations. I’ll be on it for the Mississippi Jury Verdict Reporter.
    And as I understand it, two cases are set for trial right after this one in Laurel County.

  • Stephen Ryan

    Mark A. Nelson & Jack W. Land of Bryan Nelson, P.A. of Hattiesburg; Eric Tiebauer of Waynesboro; Stephen P. Ryan of Hattiesburg for the Plaintiffs.

  • Stephen Ryan

    Susan McDonald of Nashville, TN also for the Plaintiffs.

  • Julien

    I wish one of these lawyers would e-mail the complaint to Mr. Thomas.

  • Stephen Ryan

    The plaintiffs list of attorneys are accurate (as stated in my previous post). You can confirm with Jones County Circuit Clerk’s office.
    Also, Nelson and Land are from Hattiesburg, as is Stephen Ryan. Tiebauer is from Waynesboro; McDonald is from Nachville, TN.