Jury Issues $40 Million Verdict Against Baker Botts, Then Poof, The Money was Gone — Updated

A chill swept through lawyers at Baker Botts Thursday when a Dallas jury ruled that the Texas-based law firm acted negligently more than a decade ago when it represented two competing technology companies vying for similar patent protections, but didn’t disclose the potential conflict to its client.

The jury placed damages against Baker Botts at $40.5 million, which is about eight percent of the firm’s reported revenue in 2013.