While there was no single point of failure, undisciplined acquisitions, ad hoc and expensive compensation schemes, and financial mismanagement coalesced to bring LeClairRyan’s ruin, several former shareholders say. Its demise—one of several firm failures in the last decade—is as much a story about a single firm as it is a warning to others in a softening economy.
Jan 21, 2020 11:56 AM CST