Posted Dec 04, 2009 01:34 pm CST
Ruden McClosky’s Sarasota and St. Petersburg offices are breaking off to join a new law firm.
About 23 lawyers and 27 staffers in the two offices are expected to join Adams and Reese, the Daily Business Review reports. The move gives Adams and Reese its first Florida offices and increases its size to more than 280 lawyers, according to a press release.
Ruden McClosky had been hard hit by the downturn in Florida real estate, the story says. Gross revenue dropped by 9 percent in fiscal 2008. The firm had cut associate pay by 18 percent and held back 18 percent in compensation for equity partners, saying the money was unlikely to be repaid.
Ruden McClosky managing partner Carl Schuster told the Daily Business Review that the firm’s Tampa office will continue serving clients in Florida.