Large Firm

Sullivan & Cromwell Pays Spring Bonuses; Blog Deems Them ‘Small Change’

Sullivan & Cromwell is reportedly paying spring bonuses that are quite small by BigLaw standards. The bonuses range from $1,000 for the class of 2011 to $5,000 for the class of 2006, Above the Law reports. A Sullivan & Cromwell spokesperson did not immediately return the ABA Journal’s calls seeking…

Apr 27, 2012 4:17 PM CDT

Holland & Knight Plans to Appeal $34.5M Malpractice Award; ‘Resolution’ Averts Punitive Verdict

Holland & Knight reached a deal on Tuesday to avoid a punitive damages verdict in a legal malpractice case after getting socked with a $34.5 million compensatory award last week. Los Angeles jurors were deliberating punitive damages on Tuesday when the law firm reached a confidential agreement with investors who…

Apr 26, 2012 12:43 PM CDT

Onetime BigLaw Associate, 2 Co-Defendants Part of $33M Insider-Trading Settlement

Updated: A former attorney at four major law firms who pleaded guilty last year in an insider trading case in federal court in Newark, N.J., has agreed, with two co-defendants, to settle a civil case for $33 million. Matthew Kluger, who is now in his early 50s, agreed to pay…

Apr 25, 2012 10:12 PM CDT

Reuters: As Dewey Downsizes, Smaller Law Firm’s Prepack May Be Roadmap for Solid Future

Amidst news from the Wall Street Journal (sub. req.) that Dewey & LeBoeuf is not only seeking to lease 160,000 square feet of space in its New York headquarters but is putting its executive floor on the sublease market, as well as reports that well-known law firms are in discussions…

Apr 25, 2012 9:46 PM CDT

Dewey Reportedly Lists Up to a Third of Its Headquarters for Sublease; Talks Continue with Greenberg

Updated: Dewey & LeBoeuf is seeking to sublet up to a third of its office space at its New York City headquarters at 1301 Sixth Avenue, according to a published report. Crain’s New York Business reports that Dewey has listed the property for sublease with Newmark Grubb Knight Frank. Initially…

Apr 25, 2012 11:35 AM CDT

It Takes More to Be a 1 Percenter in DC; Ex-BigLaw Partner Hopes to Be a Billionaire

Being a BigLaw partner doesn’t bring enough economic rewards for Stefan Baugh, who lives in Washington, D.C., with his wife and two children. Baugh recently left a BigLaw partnership to start a private equity company with two colleagues, the Washington Post reports. He told the newspaper he wants to create…

Apr 25, 2012 10:30 AM CDT

Report: Deadline Looms for Dewey to Renegotiate $100M Credit Line; Two More Partners Leave

Updated: Dewey & LeBoeuf owes about $75 million to a syndicate of bank lenders, money drawn on its $100 million credit line, according to a published report. Now the law firm is facing an end-of-the-month deadline to renegotiate the credit line, the Wall Street Journal (sub. req.) reports. The $75…

Apr 24, 2012 12:10 PM CDT

UK Megafirm Linklaters Forms Alliance with Australia’s Allens Arthur Robinson

A United Kingdom megafirm has joined forces with Australia’s Allens Arthur Robinson, agreeing to form an alliance and engage in joint ventures in Asia. However, the team effort with London-based Linklaters is not expected to involve a formal merger, according to the Australian (sub. req.) and Legal Week. The new…

Apr 23, 2012 9:56 PM CDT

Start Date for Dewey’s New Associates Is in 2013

As Dewey & LeBoeuf considers its options, the new lawyers it has hired are facing an uncertain future. The start date for incoming first-year associates has been deferred until January 2013, one anonymous member of the incoming class told the Am Law Daily. Summer associates are also facing uncertainty, according…

Apr 23, 2012 12:14 PM CDT

Dewey Reportedly Considers Prepackaged Bankruptcy for Merger, Retains Chapter 11 Specialist

Dewey & LeBoeuf has hired a Chapter 11 expert as it considers a prepackaged bankruptcy plan that could pave the way for a merger with another law firm, according to published reports. The expert is Albert Togut, who has represented several major companies in Chapter 11 bankruptcy, Reuters reports. Dewey…

Apr 20, 2012 11:34 AM CDT

Reports: As Dewey & LeBoeuf Refocuses on US, Multiple International Offices Mull Options

As Dewey & LeBoeuf appears to be moving forward with negotiations with its lenders to allow the firm to reduce its partner roster while continuing to maintain its hefty financing, partners reportedly are considering plans to downsize the firm and refocus on its United States corporate and bankruptcy practice. Relying…

Apr 19, 2012 10:53 PM CDT

2 McCarthy Tetrault Lawyers Testify About Files for a Current Client, the Ex-CEO of Nortel Networks

Updated: In what may be the first such testimony ever in a Canadian white-collar crime trial, two Bay Street lawyers for a former CEO of a major corporation are being called upon to offer potentially incriminating evidence against the client they are representing in ongoing legal proceedings. Attorneys Tom Heintzman…

Apr 18, 2012 6:47 PM CDT

Dewey Restructures in Middle East But Says Recent 12-Lawyer Exit There Won’t Hurt Bottom Line

After a 12-lawyer leap from the Dubai office of Dewey & LeBoeuf to Dechert earlier this week, the firm is restructuring its Middle East practice and could close offices in Abu Dhabi and Doha, as well as Dubai, Legal Week reports. The departures left Dewey with only a partner and…

Apr 18, 2012 6:22 PM CDT

Pippa Middleton Gun Incident Puts Associate in Paris Office of Shearman & Sterling in the News

A lawyer in the Paris office of Shearman & Sterling is at the center of a controversy after he was photographed brandishing what appeared to be a semi-automatic pistol while motoring with the sister-in-law of Britain’s Prince William. Another individual who apparently was in the car that 36-year-old lawyer Romain…

Apr 18, 2012 4:13 PM CDT

UK Megafirm Norton Rose Is Looking for Merger Partners in US and China, CEO Says

Having grown from 1,200 attorneys in 2009 to 2,900 today through a series of mergers with law firms in Australia, Canada and South Africa, a United Kingdom-based megafirm isn’t done yet. Norton Rose is looking for merger partners in the United States and China, its chief executive officer tells Bloomberg,…

Apr 17, 2012 10:37 PM CDT