Cadwalader on a $13 Million Roller Coaster Ride

Back in 2005 Cadwalader represented Red Zone, an investment company tied closely to Washington Redskin’s owner Dan Snyder, in a proxy fight over Six Flags.  Red Zone won the proxy fight and Snyder sat on the theme park company’s board of directors.

Now Red Zone is suing Cadwalader for malpractice.  According to Red Zone, Cadwalader negotiated a contract with UBS A.G. that would limit the fees paid to the investment bank to a total of $2 million.  Instead, an appellate court has ruled that Red Zone owes UBS a total of $8 million.