A Massachusetts appellate court ruled Friday that Wilmer Cutler Pickering Hale and Dorr must face allegations that it improperly helped the majority owners of a biotechnology company client freeze out the company’s minority shareholders.
With the Massachusetts Appeals Court decision, a three-judge panel revived claims that Wilmer and another law firm, Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, breached their fiduciary duties to minority owners of Applied Tissue Technologies, a closely held Massachusetts-based company that develops wound care technologies.
