Berman v. Alexander

On the advice of counsel, and in response to a demand made by her deceased husband’s company, Monica Berman (Monica),3 executrix of her husband’s estate, sold back to the company 500,000 shares of its stock at $1.03 per share. Two years later, the company went public, selling at $8.50 per share. Thereafter, Monica brought a legal malpractice action against the defendants, attorney Susan Alexander and her law firm (Hinckley, Allen & Snyder), claiming that Alexander’s failure to exercise reasonable care in her advice caused Monica to lose the financial benefits associated with the public…