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Allen v. Aspen Group Resources Corporation

Allen v. Aspen Group Resources Corporation

In this securities class action, Lerners represents a law firm that acted for an offeror in respect of a take-over. The plaintiff, who was a shareholder of the target corporation, alleges that the offeror’s lawyers owed him a common law duty of care. The plaintiff also alleges that the law firm is vicariously liable for the alleged liability under the Securities Act of one of its partners, who sat on the board of directors of the offeror.