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Dewey & LeBoeuf

Tweet- From LexisNexis® Mealey’s™ Daily Legal News. The liquidating trustee in the Chapter 11 bankruptcy of former law firm Dewey & LeBoeuf on June 7 objected to a claim filed by a firm acting as the fiduciary for Dewey & LeBoeuf’s 401(k) plan, disputing the fiduciary’s claims for 2011 unpaid profit-sharing contributions for eligible partners […]

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TweetThe recent collapse of the now-infamous New York City firm Dewey & LeBoeuf, which at the height of its popularity had over 1,000 lawyers, has had many consequences. One of the more notable ones is the disruption caused to the job market for attorneys as a result of the laying off of all Dewey attorneys. […]

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TweetGuaranteed multi-year partner compensation contracts, in an open system where all partners know what everyone makes, was probably ground zero of the Dewey & LeBoeuf disaster. High partner compensation, with no tie to the firm’s realization rate and without an escape clause to allow for adjustment in a declining market, no doubt sealed Dewey’s fate. […]

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TweetDewey & LeBoeuf’s seemingly rapid free fall has caught the attention of business analysts and bankers as much as the legal community.  As a result, the legal industry today is undergoing the same scrutiny as the financial services industry did in 2008. While criminal allegations, lush multi-year contract guarantees and big debt dominate the Dewey […]

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