Jones Day has brought an end to its high-profile legal fee dispute with private equity firm Centre Lane Partners LLC, resolving a lawsuit that sought to recover approximately $9.6 million in allegedly unpaid bills.
A filing submitted in a New York state court confirmed that both sides have agreed to dismiss the case with prejudice, permanently closing the dispute and preventing it from being filed again. Neither party disclosed the terms of the agreement.
The lawsuit, filed earlier this year, accused Centre Lane and dozens of its portfolio companies of failing to pay for years of legal services. According to the complaint, Jones Day had represented the investment firm since 2018, advising on a broad range of matters including litigation, acquisitions, financing transactions and government investigations.
Among the portfolio companies named in the case were household brands such as Anchor Hocking and Corelle Brands, which were also listed as defendants.
Jones Day claimed that Centre Lane stopped paying its invoices in 2024 despite repeated assurances that outstanding balances would be settled. The law firm alleged that after months of unsuccessful efforts to secure payment, it began formally withdrawing from its representation of Centre Lane and affiliated companies in January.
Court records show Centre Lane did not file a formal response to the allegations before the case was resolved.
The settlement comes as Centre Lane faces legal challenges on another front. Earlier this week, former senior executives of Instant Pot filed a separate lawsuit in federal court in Delaware accusing the private equity firm of engaging in a scheme that allegedly violated the federal Racketeer Influenced and Corrupt Organizations (RICO) Act.
That complaint alleges Centre Lane worked with two portfolio companies and board members appointed by the firm to carry out financial misconduct before removing executives who refused to participate. The allegations remain unproven, and Centre Lane has not publicly responded to the claims.
While the legal fee dispute between Jones Day and Centre Lane has now been settled, the confidential nature of the agreement leaves unanswered questions about how the two sides ultimately resolved the multimillion-dollar disagreement.
