The case involves the 2009 acquisition of Advanced Medical Optics, the client of Mr Waxman, by Abbott Laboratories. The CEO of Advanced Medical, whom Mr Waxman was also advising, was accused of leaking information about the deal.  Mr Waxman refused to give information about an interview he held with the CEO on the grounds that it was protected under the work product rule as the CEO had requested the interview. But, earlier this year, Mr Waxman changed his line and said that the interview was not, in fact, protected as it had also been requested by the company. 

Serial mis-statements alleged

Prosecutors have accused him of making 'serial' mis-statements and being motivated by the prospect of the large legal fees he stood to gain. In a motion put to the court, the firm said: 'Skadden has already accepted the harm to its reputation caused by Mr. Waxman’s mistakes before the Court. And, indeed, the attorney who made or caused to be made the mistakes at issue (Mr. Waxman) no longer works at the firm and has withdrawn from this case.' Source: Bloomberg Business of Law