Charles Russell Sued Over Soured Deal For Cloud Tech Co.

Law360, London (October 7, 2020, 5:03 PM BST) -- Two business owners have sued Charles Russell Speechly LLP in London alleging that bad legal advice stiffed them out of approximately £3.8 million ($6.4 million) when they sold a stake in their IT company to a private equity firm.

In a Sept. 23 claim with the High Court, Paul Richards and Keith Purves argued the law firm — created from the 2014 merger of Charles Russell and Speechly Bircham — was liable for the advice they received on the sale of their 42.95% stakes in IP Solutions UK Ltd., a cloud-based technology company founded in 2001.

The claimants hired Speechly Bircham...

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