(no link)
INSIDE TRACK - Suit doesn’t put much stock in lawyers’ advice
Boston Herald (MA) - Wednesday, October 25, 1995
Author: Gayle Fee & Laura Raposa
The ex-wife of Staples czar Tom Stemberg is suing legendary Boston divorce attorney Monroe Inker and one current and one former member of his law firm, claiming they gave her lousy investment advice when they told her to sell her Staples stock to pay her legal fees.
Maureen Sullivan Stemberg filed suit in Suffolk Superior Court against Inker, his partner John White, the firm and a former associate, Joseph Walsh, who is now with Menard, Murphy & Walsh.
“At various times during their representation of Ms. Stemberg , the defendants advised and urged Ms. Stemberg to sell portions of the Staples stock and to apply a portion of the proceeds toward the payment of the defendants’ outstanding legal bills,” the suit says.
“Ms. Stembergsold those shares at a highly disadvantageous price and prior to a succession of stock splits which would have greatly increased her holdings.”
The suit further states that the attorneys should have known the sale of the stock could constitute ratification of a separation agreement that Stemberg is still contesting.
Inker, who has represented high-profile clients like Joan Kennedy, ex-Celtic Robert Parish, moneyman Tom Lee’s ex, Barbara, and House Speaker Charlie Flaherty’s ex, Lynn, said he and White were unaware of the suit and had virtually nothing to do with handling her divorce.
“If anything, we ought to be suing her. We still haven’t been paid,” he said.
Inker said Walsh had the Stemberg case and took it with him when he left Inker’s firm for Cuddy, Lynch & Bixby.
“She hired Walsh, we had nothing to do with it,” Inker said. “But what can I say, anyone can be sued.”
(snip)
bump