Keker & Van Nest partner Steven Ragland today secured the dismissal of legal malpractice claims brought against his client, a prominent international law firm. In 2009, two Silicon Valley entrepreneurs hired the firm, Mr. Ragland's client, to assist with the negotiation and sale of their technology company, in exchange for cash and stock in the acquiring company. After the deal was finalized, the acquiring company's stock dropped sharply. The entrepreneurs sued the law firm and two of its partners, claiming it was malpractice not to have included provisions in the sales agreement to protect the sellers from a decline in value of the acquiring company's stock.
Mr. Ragland and Keker & Van Nest's legal team mounted an aggressive defense that convinced opposing counsel to dismiss the case before any response to the complaint was required to be filed. The case was dismissed with prejudice on May 13, 2011 with no payment or other concession by Mr. Ragland's clients.
Steven Ragland has extensive experience in a broad range of criminal defense and complex civil litigation matters. Mr. Ragland has represented individuals and companies facing criminal allegations ranging from securities, mail, and wire fraud to drug and terrorism offenses. In the civil realm, he has successfully represented clients in breach of fiduciary duty, fraud, legal malpractice, defamation, trade secret misappropriation, contract interference, unfair business practice, and civil rights matters.