Investors accuse Nathan Sommers Jacobs, a professional corporation of negligent misrepresentation

HOUSTON — Investors are suing Nathan Sommers Jacobs, a legal legal services provider, citing alleged negligent misrepresentation.

Stephen I. Way and Any K. Myers, as trustees of the VLJ trust and John T. Knox, as trustees of the Jennifer Trust filed a complaint on June 2, in the Harris County District Court against Nathan Sommers Jacobs, a professional corporation alleging that the legal legal services provider failed to comply with the applicable professional standards for attorneys forming business entities.

According to the complaint, the plaintiffs allege that, plaintiffs engaged defendant to handle formation of Carnarvon Ltd., an investment vehicle for plaintiffs in Cayman Island. As a result of defendant's negligence, plaintiffs suffered damages for paying additional net investment income tax and higher taxes on gains in an amount exceeding $1 million. The plaintiffs holds Nathan Sommers Jacobs responsible because the defendant allegedly failed to properly draft transaction documents and failed to disclose and advise plaintiffs that they would be subjected to higher taxes.

The plaintiffs request a trial by jury and seek monetary relief of more than $1 million, pre- and post-judgment interest, costs of court and all other relief to which plaintiffs are entitled. They are represented by John Holman Barr and M. Forest Nelson in Dallas.

Harris County District Court Case number 2017-36980

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