Law firm Jones Day has reached a settlement with private equity firm Centre Lane Partners over a lawsuit seeking $9.6m in allegedly unpaid legal fees, bringing the dispute to an end without the terms of the agreement being disclosed, according to a report by Reuters.
A filing in a New York state court confirmed that the case has been dismissed with prejudice, preventing it from being brought again. Lawyers representing both Jones Day and Centre Lane agreed to the dismissal, although neither party revealed details of the settlement.
Jones Day filed the lawsuit earlier this year, alleging that Centre Lane had failed to pay millions of dollars in legal invoices despite the firm providing a broad range of legal services since 2018.
According to the complaint, Jones Day advised the private equity manager on litigation, acquisitions, financings, government investigations and other corporate matters, representing both Centre Lane and a number of its portfolio companies.
The law firm claimed that payments ceased in 2024 and alleged that repeated assurances that outstanding invoices would be settled were not fulfilled. Jones Day said it subsequently began withdrawing from its legal representations of Centre Lane and several portfolio companies in early 2026.
The original lawsuit named numerous Centre Lane-controlled businesses as defendants, including consumer products companies Anchor Hocking and Corelle Brands.
The settlement comes as Centre Lane faces separate legal challenges. Earlier this week, the former chief executive and former chief financial officers of portfolio company Instant Pot filed a lawsuit in Delaware federal court alleging that the private equity firm and certain affiliated companies engaged in conduct that violated the US Racketeer Influenced and Corrupt Organizations (RICO) Act.
The complaint alleges that Centre Lane conspired with portfolio companies and board representatives in connection with financial misconduct before removing executives who refused to participate. Centre Lane has not publicly responded to those allegations.
