Vision-Wear startup files explosive legal malpractice lawsuit against Perkins Coie. A legal malpractice lawsuit filed by vision-wear company Lensabl accuses law firm Ashurst Perkins Coie of botching due diligence on a deal that ultimately collapsed, costing the company millions and forcing a distressed sale of the business. The deal that fell apart. Lensabl's lawsuit, filed Thursday in Texas state court, centers on a proposed transaction in which Robert Byrnes and his companies agreed to acquire a 49% stake in Lensabl for $29 million. According to the complaint, Byrnes and his companies were never able to deliver even the initial $4.3 million payment required under the agreement. Lensabl alleges that Perkins Coie, the firm advising it on the deal, failed to take basic steps to confirm the buyers actually had the money to close. The complaint claims the firm skipped tasks that would be standard even in far smaller transactions - requesting bank statements from prospective buyers and securing a lender commitment among them. Instead of catching the shortfall before signatures were exchanged, Lensabl says it was left to discover the truth only after the deal had already fallen through. Why this legal malpractice lawsuit matters. The fallout, according to Lensabl, was severe. The company says it wasted significant time and money pursuing the failed transaction, which ultimately forced it into a distressed asset sale to Visibly, an eye care-focused healthcare technology company, in 2024. Lensabl is now seeking more than $50 million in damages, a striking figure given that Perkins Coie billed the company more than $400,000 in fees for its work on the transaction. The lawsuit puts a sharp point on the central failure it alleges: Where was the money? - Lensabl, in its lawsuit That question, the complaint argues, should have been asked and answered long before Lensabl signed the transaction documents. Instead, it became the question that unraveled the entire deal. The firms involved. The allegations stem from work performed for Lensabl by Perkins Coie before the firm's merger with London-based Ashurst last month, which created a combined operation with roughly 3,000 lawyers. Lensabl's lawsuit names Perkins Coie, Ashurst, and the newly formed Ashurst Perkins Coie as defendants, reflecting the complexity that can arise when malpractice claims trail a firm through a merger. Andrew Cobos, the Houston-based attorney representing Lensabl, was direct in characterizing the firm's alleged missteps. In an email, he said the firm: failed Lensabl in a manner that was easily avoidable. - Andrew Cobos, attorney for Lensabl A spokesperson for Ashurst Perkins Coie did not immediately respond to a request for comment on the lawsuit. A second front in the legal battle. This is not Lensabl's only pending litigation tied to the failed transaction. The company previously filed a separate lawsuit against Byrnes, his businesses, and other individuals involved in the deal in Texas Business Court. That case has already seen some setbacks for Lensabl - a Texas Business Court judge dismissed some of the company's claims in November. Attorneys for Byrnes and the other defendants in that case declined to comment. What comes next. The dual lawsuits illustrate the layered fallout that can follow a failed acquisition: one dispute aimed at the parties who allegedly couldn't pay, and now another aimed at the law firm accused of failing to verify that they could. For Lensabl, the legal malpractice lawsuit against its former counsel represents an attempt to recoup losses it says never should have occurred in the first place - losses tied directly to due diligence steps the company argues were both obvious and skipped. As the case moves forward in Texas state court, it will likely draw attention from corporate attorneys and risk managers alike, serving as a reminder that even routine verification steps - confirming a buyer's financing before ink hits paper - remain central to a law firm's duty of care in high-value transactions.

Perkins Coie and Ashurst finalize combination, creating Ashurst Perkins Coie - A firm built for what's next. NEW YORK, June 28, 2026 /PRNewswire/ - Perkins Coie and Ashurst today announce the successful completion of their combination, forming Ashurst Perkins Coie, a globally integrated law firm with differentiated strengths in technology, energy and infrastructure, and financial services. The legacy firms both bring strong financial momentum and a shared tradition of innovation, including early integration of AI. Now combined, Ashurst Perkins Coie has a footprint of 52 offices across 20 countries and regions, over 950 partners and 3,500 client-facing practitioners, with flagship hubs in Seattle, London, Sydney, and New York. Capitalizing on its deep and broad experience with the key sectors and technologies shaping the future, Ashurst Perkins Coie will seamlessly advise the companies leading that charge, whether in negotiating complex transactions, handling complicated litigation, or interpreting intricate regulations. As the world's foremost financial institutions, energy companies, and tech innovators navigate the trends and issues defining tomorrow's global business landscape, Ashurst Perkins Coie will be at their side. As previously announced, Bill Malley and Paul Jenkins are Global Co-CEOs of Ashurst Perkins Coie, with Karen Davies and Brian Eiting as Global Co-Chairs. Bill Malley, Global Co-CEO, said: "With the launch of Ashurst Perkins Coie, we are focusing on the sectors driving global economic transformation - particularly technology, energy and infrastructure, and financial services, all of which will be central to our strategy. As AI brings these sectors closer together, we are uniquely positioned to help clients navigate this convergence so they can move forward with confidence." Paul Jenkins, Global Co-CEO, said: "Ashurst Perkins Coie enters the market with a clear ambition: to be the leading global advisor to the companies shaping the future economy. We have built a firm with the scale, capability, and sector focus to combine deep global market insight with practical execution, helping clients tackle complex, cross-border challenges." Karen Davies, Global Co-Chair, said: "At Ashurst Perkins Coie, we know that our success will be defined by our people - that's why we're building the global destination for top talent. Across our offices, practices, and sectors, our lawyers and business professionals share a commitment to collaboration, sound judgment, and delivering for our clients. Those values will define how we navigate an evolving marketplace together." Brian Eiting, Global Co-Chair, said: "From the early foundations of the aerospace industry, to establishing the blueprint for NewLaw, innovation is our tradition. With our experience and insight at the forefront of technology, Ashurst Perkins Coie will continue to build upon a centuries-long legacy of enabling progress." Ashurst Perkins Coie provides integrated solutions through eight divisions reflecting market opportunity, client needs, and the firm's breadth of distinctive sector, practice, and operational capabilities. Additional information about the Ashurst Perkins Coie Global Leadership Team and Global Board can be found on the Ashurst Perkins Coie website. About Ashurst Perkins Coie Ashurst Perkins Coie is the global law firm for the future economy. With 3,500 client-facing practitioners across 52 offices worldwide, the firm advises leading organizations in technology, energy and infrastructure, and financial services - three critical industries at the center of economic transformation. Combining global scale, sector insight, and technological capability, Ashurst Perkins Coie helps clients navigate change and unlock opportunity. For additional information about Ashurst Perkins Coie, please visit: www.ashurstperkinscoie.com. SOURCE Ashurst Perkins Coie Disclaimer: The above press release comes to you under an arrangement with PR Newswire. USA Newshour takes no editorial responsibility for the same. PR Newswire is a distributor of press releases headquartered in New York City.