New York law firm Proskauer Rose LLP is firing back at former client Overseas Shipholding Group, which is suing the firm for bad legal advice, saying the shipping company's own executives' "faulty" decision making and "imprudent" risk-taking led the company into bankruptcy, Dow Jones Daily Bankruptcy Review reported today. Lawyers for Proskauer said in a court filing on Friday that the firm isn't responsible for OSG's restatement of a decade's worth of financial results because its incorrect legal advice was based on key information "furnished to Proskauer by OSG that OSG knew to be false."
