Law Firm of Peter Angelos, Notable for Asbestos and Tobacco Litigation, to Be Sold to Three Members of Practice

Baltimore, MD – Peter Angelos’ renowned law firm, known for its success in securing substantial awards and settlements on behalf of asbestos and tobacco victims, is set to be sold to three members of the practice. The sale was authorized by Baltimore County Circuit Judge Keith R. Truffer, concluding a legal dispute among Angelos’ family members. The family patriarch, now 94 years old, has been incapacitated by illness since 2018.

Financial details of the sale were not disclosed in court documents filed on Wednesday. This development follows the Angelos family’s agreement to sell their most lucrative asset, the Baltimore Orioles, to Baltimore native and private equity billionaire David Rubenstein.

Effective March 1, attorneys Jay D. Miller, James S. Zavakos, and William G. Minkin will assume ownership of the firm. They plan to seek the approval of the Supreme Court of Maryland to retain the Angelos name on the firm for at least three years.

Given the internal conflicts within the Angelos family, the firm had been placed under conservatorship. Louis Angelos, the younger son and former manager of the firm, filed a lawsuit in June 2022 against his brother, John, who serves as CEO of the Orioles, and their mother, Georgia. Louis claimed that John, with the consent of their mother, was attempting to gain control of their father’s wealth. This lawsuit, as well as a countersuit filed by Georgia Angelos, was privately resolved in February 2023 under undisclosed terms.

Subsequently, the family has been divesting various assets of Peter Angelos’ considerable fortune, including real estate holdings and now, the law firm. Angelos established the practice in 1961 after graduating from the University of Baltimore law school, transforming it into a reputable firm. Distinct from other firms, Angelos served as the sole owner while the remaining attorneys were his employees.

The firm became widely recognized for its representation of steel and shipyard employees, among others harmed by asbestos. Additionally, the state of Maryland engaged the firm to handle litigation against tobacco companies.

This article will be updated as further information becomes available.