27 lawyers leave Stroock as it continues to seek merger partner
“Our talks with other firms continue, we are making good progress, and we are excited about the opportunities they present,” according to a statement from Stroock & Stroock & Lavan. Image from Shutterstock.
Stroock & Stroock & Lavan has said it continues to talk with other law firms about a possible merger after 27 of its lawyers left for Steptoe & Johnson.
The 27 departing lawyers are taking eight business services professionals with them, report Law.com, Reuters and Law360.
The moves will bolster Steptoe’s financial services, class action defense, and insurance and reinsurance practices, according to Reuters. Law.com, however, said the moves are a “major expansion” of Steptoe’s regulatory enforcement, litigation and investigations practices.
One of the lawyers leaving Stroock is Michele Jacobson, its general litigation practice chair, who is also co-chair of the firm’s insurance and reinsurance group. Another exiting lawyer is Julia Strickland, who chairs Stroock’s financial services litigation, regulation and enforcement group.
Stroock said in a statement its “higher rate and most profitable practices remain intact” after the lawyer losses.
“Our talks with other firms continue, we are making good progress, and we are excited about the opportunities they present,” the statement said.
Stroock had been discussing a merger with Nixon Peabody, but those talks ended earlier this month.
Last year, Stroock lost 43 restructuring lawyers to Paul Hastings. This year, Stroock’s largest lawyer loss was 10 consumer financial services lawyers who joined Morgan Lewis, according to Law360.
