Charles Speechly Loses £1.5M Negligence Suit Over PE Sale

By Silvia Martelli (April 29, 2022, 2:54 PM BST) -- Two business owners won their £1.5 million ($1.9 million) negligence suit against Charles Russell Speechly LLP on Friday when a London court ruled that the law firm gave them bad advice over the sale of their stakes in their IT company to a private equity firm.

Judge Jonathan Russen said at the High Court that Speechly Bircham LLP is liable for the advice given to Paul Richards and Keith Purves on the sale of their 42.95% stakes in IP Solutions UK Ltd., a cloud-based technology company founded in 2001.

The law firm — created in the 2014 merger of Charles Russell...

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