LISI v. LOWENSTEIN SANDLER LLP

8645, 160298/16.

170 A.D.3d 461 (2019)

95 N.Y.S.3d 190

2019 NY Slip Op 01665

Steven Lisi, Appellant, v. Lowenstein Sandler LLP et al., Respondents.

Appellate Division of the Supreme Court of New York, First Department.

Decided March 7, 2019.


In this legal malpractice action, plaintiff alleges that defendants were negligent in failing to advise him that the income realized from the exercise of his stock options would be taxed as ordinary income and that, had they so advised him, he would have sold his shares earlier or eliminated any market risk by shorting the shares in full or otherwise taking measures to eliminate risk. However, this theory of proximate cause is belied by the record and relies on gross speculation...

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