Pinsent Masons Shears Negligence Suit Over IPO Advice

Law360, London (October 14, 2020, 5:29 PM BST) -- A London judge on Wednesday tossed the bulk of a Chinese sportswear manufacturer's negligent advice lawsuit against Pinsent Masons after the company's boss disposed of its assets, ruling that its claims are barred by a recent landmark decision by the U.K.'s top court.

High Court Judge Kelyn Bacon struck out claims by Naibu Global International Co. PLC and its Jersey unit accusing the law firm of contributing to the devaluation in its share price after the company's Chinese operations were shut down.

The judge said that Naibu's Jersey unit can't claim the losses suffered by the manufacturer's arm in Hong Kong...

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