Large Firm

Ex-Client Sues Duane Morris, Says Senior Partner’s Failure to Disclose Conflict Cost Him $92M

A former chief executive officer of SecureNet has sued Duane Morris for malpractice, contending that a senior partner of the over 700-attorney law firm failed to disclose a conflict when representing him in his 2010 sale of a controlling interest in the credit card processing company. Plaintiff Marc Potash says…

Jul 18, 2012 3:45 PM CDT

Retiree Group Claims Dewey Clawback Plan Protects Leaders at Expense of Other Partners

A group of Dewey & LeBoeuf retirees claims a proposed $103.6 million clawback settlement is unfair because it protects firm leaders from lawsuits and caps payouts by highly compensated partners. Annette Jarvis of Dorsey & Whitney is representing the group of 53 retirees or their survivors, all from the LeBoeuf…

Jul 18, 2012 1:02 PM CDT

Ropes & Gray Is First US Law Firm to Get OK to Open Office in South Korea

Two U.S.-based law firms are poised to become the first to open law offices in South Korea. Ropes & Gray and Sheppard, Mullin, Richter & Hampton were the first and second law firms to receive approval Monday to open offices there, the Wall Street Journal’s Deal Journal blog reports. Clifford…

Jul 17, 2012 10:29 PM CDT

Dewey’s Dilemma: To Shred, or Not to Shred? And Who Pays for Shredding or Continued Storage?

After a century in business, as far as its predecessor law firms are concerned, Dewey & LeBoeuf has a lot of client files in its possession. More than 100,000 boxes of documents are stored in one Brooklyn, N.Y., facility. Hundreds of thousands more can be found in locations stretching over…

Jul 12, 2012 7:27 PM CDT

Dewey & LeBoeuf Estate Seeks $103.6M Clawback From Bankrupt Firm’s Former Partners

In a settlement proposed Wednesday to some 700 former partners of Dewey & LeBoeuf, those in charge of the Chapter 11 bankruptcy under which the firm is being wound down are asking for a $103.6 million clawback. The partners have until July 24 to decide whether to accept the settlement,…

Jul 11, 2012 10:55 PM CDT

Weil Gotshal Seeks OK of $431.6M Legal Bill for Lehman Bros. Bankruptcy, Won’t Seek Fee Enhancement

Weil Gotshal & Manges has asked a federal bankruptcy judge in Manhattan to OK more than $430 million in fees for representing Lehman Brothers Holdings Inc. in a record-breaking bankruptcy case over a period of three-and-a-half years. During that time, lawyers and staff billed approximately 747,000 hours in the largest…

Jul 9, 2012 10:49 PM CDT

Sheppard Mullin Opens New Office in Chicago with 5-Lawyer Team from K&L Gates

Sheppard Mullin Richter & Hampton announced Monday that it has opened an office in Chicago with a five-lawyer team from K&L Gates. The new office of the California-based international firm also includes a labor and employment partner from Winston & Strawn on its attorney roster, as well as Sheppard Mullin’s…

Jul 9, 2012 4:16 PM CDT

Dewey Seeks Bankruptcy Judge OK to Pay Remaining Workers Up to $450K in ‘Morale’ Bonuses

Dewey & LeBoeuf is seeking bankruptcy court approval to pay up to $450,000 in “morale” bonuses to help retain the 52 workers it needs to wind up its operations over the next few months. However, five key employees could get another $250,000, for a total bonus pool of $700,000, depending…

Jul 5, 2012 8:25 PM CDT

Stroock Seeks $261K in Attorney Fees from Ex-Partner Who Sued for Retirement Pay

Stroock & Stroock & Lavan is asking a New York court to enforce an arbitration ruling and award at least $261,000 in attorney fees spent litigating a dispute over a former partner’s retirement benefits. The New York arbitrator ruled on June 18 that former Los Angeles partner Michael Perlis is…

Jul 3, 2012 11:37 AM CDT

Suit Claims Lawyer Slapped Paul Hastings Partner Because of Violent Finger Shaking, Spittle-Spewing

A Manhattan lawyer admits in a lawsuit that he slapped a Paul Hastings partner in a deposition last August, but says it was justified. Lawyer Kenechukwu Okoli claims he deserves more than $1 million in damages for the incident in which Okoli slapped Allan Bloom, the co-chairman of Paul Hastings’…

Jul 2, 2012 12:20 PM CDT

C. Allen Parker Will Be Cravath’s Next Presiding Partner; Evan Chesler to Assume New Chairman Role

C. Allen Parker will be the next presiding partner of Cravath Swaine & Moore, the firm announced Thursday. Current presiding partner Evan R. Chesler is required to step down, because he turns 63 this year, but will assume a newly created position as chairman on Jan. 1, 2013, the same…

Jun 28, 2012 8:03 PM CDT

Herbert Smith and Freehills OK Megamerger; 2,800-Attorney Firm Plans to Open New York Office in 2012

Partners of London-based Herbert Smith and Australia’s Freehills have agreed to merge on Oct. 1. The 2,800-attorney merged firm will open a New York office this year, as well as in Africa and Seoul, reports Bloomberg. An office in Germany is planned next year. The Australian (reg. req.), the Financial…

Jun 28, 2012 3:31 PM CDT

When BigLaw Keeps Preferring Top-Tier Schools, Innovation Suffers

Not surprising to many of the beleaguered in the profession, only 8 percent of 2011 law school graduates landed jobs at firms with more than 250 attorneys, according to figures released by the American Bar Association last week. While the data reflects the stringent job market, it’s certain to shock…

Jun 25, 2012 7:17 PM CDT

Individual Dewey Partners and Banks That Loaned Them Equity to Pay to Firm Are Now at Odds

It isn’t just Dewey & LeBoeuf that’s reportedly laden with debt. A number of individual partners borrowed money from banks in recent years to fund their capital contributions to the firm and are mulling options as the banks that lent to them are making efforts to collect payments on the…

Jun 25, 2012 6:49 PM CDT

Questions an Inquiry Commission Might Have About the Dewey & LeBoeuf Crash

When a plane crashes, the National Transportation Safety Board dispatches an investigative team to understand the causes and prevent future crashes. When the Space Shuttle Columbia disintegrated, the Columbia Accident Investigation Board assessed the causes of the disaster. When the financial markets crashed in 2007, Congress (following in the footsteps…

Jun 25, 2012 1:30 PM CDT