Posted Mar 26, 2012 06:35 pm CDT
The managing partner of the Houston office of Dewey & LeBoeuf has announced he plans to leave, with three associates, for another law firm, bringing to 37 the total number of Dewey partners who have exited or are about to, in the first three months of 2012.
But Sean Gorman, who is joining the boutique litigation firm of Ahmad Zavitsanos Anaipakos Alavi & Mensing, said a desire to leave BigLaw rather than any concern about Dewey’s finances is prompting his move, reports the Wall Street Journal Law Blog.
“If Dewey was still making the huge profits it made in 2007, before the recession, I still would have made the decision to go,” Gorman told the Law Blog on Saturday.
Meanwhile, Legal Week reports that Dewey, which was next scheduled to review its finances in April with its lenders has moved the discussions forward.
The firm, through an unidentified “spokesperson,” told the legal publication that the talks have been “positive” and said “we are in the process of renewing our revolving credit facility with our banks and discussions are proceeding as expected.”
ABAJournal.com: “12 Partners Exit Dewey LeBoeuf for Willkie Farr, Including 3 Practice Group Leaders”
ABAJournal.com: “Dewey Statement Hits Financial ‘Mischaracterizations’; WSJ Reports Delayed Bonuses”
ABAJournal.com: “6 More Dewey & LeBoeuf Partners Plan to Exit, Including Insurance Practice Leaders”
Term Sheet (Fortune): “Dewey & Leboeuf: Partner exodus is no big deal”
Updated at 1:46 p.m. to include Legal Week coverage.