Fort Lauderdale’s central courthouse is about to host the kind of legal showdown most BigLaw firms only read about. A rare legal malpractice jury trial is set to open this week, putting elite firm Simpson Thacher & Bartlett under a spotlight that high-end defense shops usually manage to avoid. Former Patriot National chief executive Steven Mariano is chasing damages tied to the insurance company’s collapse, and a local Broward County jury will be asked to decide whether lawyer missteps, rather than market forces, helped sink the firm. Opening arguments are scheduled for Wednesday in Broward County’s 17th Judicial Circuit.
Allegations At The Heart Of The Case
Mariano’s lawsuit claims Simpson Thacher failed to draft contractual protections that would have blocked hedge funds from short-selling Patriot National shares beginning in late 2015. The suit blames that short-selling strategy for a steep stock plunge that the complaint says contributed to the company’s 2018 bankruptcy. Mariano is seeking more than $200 million, and his legal team argues that faulty advice left the insurer unable to withstand the market pressure. Simpson Thacher has pushed back in court filings, saying it stands by its work and that Mariano has not shown proof of manipulative trading, according to Reuters.
Where The Trial Will Be Held
The trial is scheduled for the Broward County central courthouse in downtown Fort Lauderdale. The 17th Judicial Circuit’s central courthouse, located at 201 S.E. 6th Street, handles the Circuit Civil docket where the malpractice case is assigned, according to the Broward County Clerk. Visitors can expect the courthouse’s standard security screening and filing procedures that apply to civil trials…