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Swan Bitcoin has initiated a malpractice lawsuit against its former legal representation, the law firm Gibson, Dunn & Crutcher. The lawsuit alleges that Gibson Dunn prioritized the interests of Tether, a rival cryptocurrency company, over those of Swan Bitcoin. This conflict of interest arose after the firm hired prominent trial lawyer Barry Berke, who represents Tether. Swan Bitcoin claims that Gibson Dunn abandoned it in ongoing trade secret litigation, likening the firm's actions to dumping a 'hot potato'. The case highlights the tensions within the cryptocurrency sector, particularly as legal disputes become more prevalent among crypto firms and their advisors.
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Swan Bitcoin hit Gibson Dunn with a malpractice suit alleging the firm dumped Swan "like the proverbial 'hot potato'" in underlying trade secret litigation and tried to take on Swan's rival as a client after a lateral hire created a conflict of interest. https://t.co/ctLlgDvq11
