Overseas Shipholding Group (OSG) said it has a final settlement in place in its suit against a law firm that allegedly provided bad tax advice to the tanker company.
OSG had sought as much as $450m against Proskauer Rose and some lawyers at the firm when it first brought the suit in 2014.
Neither company disclosed the amount of the settlement, but Proskauer Rose said today that it “reluctantly agreed” to pay substantially less than it would have had to fork out in legal costs to continue the litigation.
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