Posted Sep 25, 2007 01:04 pm CDT
Plaintiffs law firm Motley Rice said in a recent letter it plans to “wind down” an Atlanta office created to focus on securities litigation.
Motley Rice managing partner Ann Ritter says she asked three of the four lawyers in the Atlanta office to move to a Charleston, S.C., suburb, where the law firm’s securities practice has taken off, according to the Fulton County Daily Report.
The Atlanta office opened less than two years ago when four lawyers jumped to Motley Rice from a competing securities litigation firm.
Ritter explained herself in a letter obtained by the legal publication.
“Regrettably, the [Atlanta] practice did not materialize as we had hoped,” she wrote. “Instead, during the past two years, the firm, largely through the separate efforts of others, has developed a national securities practice with the bulk of our lawyers and staff now centered in Charleston. This has caused us to rethink our strategy going forward. Accordingly, we have decided to wind down the Atlanta location of our securities practice.”
Partner Joseph Rice seemed to backtrack in an interview with the legal publication, saying the letter was sent merely to gauge interest in a move to South Carolina.