Posted Apr 09, 2007 05:57 pm CDT
A week ago, Lynnette R. Warman was a partner at Dallas-based Jenkens & Gilchrist, where she had worked for nearly 20 years. Today, she is one of 93 former Jenkens attorneys in practice in one of three Texas offices of Hunton & Williams, part of a sudden shift of legal talent spurred by the shut-down of her now-former firm at the end of March. Hunton & Williams is also opening a new office in Austin with attorneys acquired from Jenkens.
“None of us really anticipated what happened with the firm – it was kind of a surprise,” Warman told the Wall Street Journal [sub. req.], adding that she feels lucky to have been able to make the shift so swiftly. “I’m extremely glad we were able to move to Hunton. I have very high expectations and it was a high move for everyone involved.”
A tax powerhouse peaking with 600 lawyers on its roster, Jenkens dwindled to perhaps one-third of that size and was eventually forced to close due to its promotion of abusive tax shelters. In addition to generating huge fees, the practice also produced an Internal Revenue Service investigation, a $76 million federal fine and ongoing civil litigation by former clients.