Acumen’s Counter: Justice Shouldn’t Depend on Zip Code
Picca fired back, explaining that Acumen had sought local representation but three Philadelphia firms declined due to conflicts with Pepper Hamilton. “It is inherently unfair and unjust to impose a burden of taking a lesser degree of representation,” he said, arguing that the high fees were unavoidable given the circumstances.
From Arbitration to Victory: The Origins of the $3.5M Fight
Acumen’s saga with Troutman Pepper began in 2018, when the healthcare tech firm sued the law giant for malpractice over its representation between 2011 and 2018. During this time, the firm advised Acumen in negotiating the sale of its assets and a stock warrant tied to that deal.
But Acumen alleged that Troutman Pepper concealed critical information—specifically, a material discrepancy between the letter of intent and the final deal documents—and then led the company into costly and futile arbitration after the warrant was rejected.
The lawsuit claimed the firm billed nearly $1.5 million in legal fees despite the warrant’s maximum potential value being $898,000. When Acumen refused to pay an outstanding $750,000, Troutman Pepper hit back with counterclaims and a third-party complaint against Rangone personally.
