The plaintiffs in this case (“Celanese”) sued Kaye Scholer–the law firm that had represented them in an earlier proceeding involving alleged fixing of prices for polyester staple fiber (In Re: Polyester Staple Antitrust Litigation)–alleging legal malpractice. The Polyester Staple case had been resolved by settlement, after proceedings including multiple expert economic analyses submitted on behalf of both the plaintiffs and the defendants. But, subsequently, Celanese filed legal proceedings against Kaye Scholer, claiming it would not have entered into that settlement agreement absent the law firm’s alleged misconduct.
Econ One was retained by counsel for Kaye Scholer to review the reports submitted by the economic experts in the Polyester Staple litigation, and to provide an opinion as to the reasonableness and reliability of the analyses in those reports. Dr. Jeffrey Leitzinger submitted an expert report addressing these issues and he also provided deposition testimony. The matter then was resolved prior to trial, when the parties agreed to dismiss all claims and counterclaims.