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: Law Blog - WSJ.comDewey Leadership: ?Nothing, however, at this point, is definitive.?
By Jennifer Smith
For those following the saga over at Dewey & LeBoeuf, firm leaders issued a memo today to all personnel addressing reports on the firm’s proposed plan for a merger via a prepackaged bankruptcy sale. (WSJ’s story here)
Here’s the memo, which was obtained by WSJ:
TO: Global Personnel
You have undoubtedly read press reports speculating about the future of the firm, including one in the Wall Street Journal based upon anonymous stating that we have "discussed filing a prepackaged bankruptcy plan that would allow a merger partner to take on the firm free of its mounting debts and substantial unfunded pension obligations." The fact is, like any good managers, we are considering various paths including continuing to operate as an independent global law firm and a strategic combination with another leading law firm, the latter of which could take many forms. Nothing, however, at this point, is definitive. As soon as something more definitive comes into focus, we will of course let you know. In the meantime, the best way to ensure the firm's success is to continue to focus on doing great work for our clients.
Office of the Chairman
Charley, Jeff, Martin, Rich and Steve
Full post as published by Law Blog - WSJ.com on April 20, 2012 (boomark / email).
Dewey Defector Speaks, Opens Up About Partner Pay, Firm Leadership, and What May Come Next
In a candid interview, corporate lawyer John Altorelli, now with DLA Piper, talks about why he left Dewey & LeBoeuf and how he thinks the firm may fare in the coming months. The interview comes as the number of Dewey partner departures since January rises to 48.
Mayer Brown Loses Top Finance Lawyer to Dewey
Marshall Stoddard, who served as co-chair of Mayer Brown's global finance practice and was the relationship partner to Bank of America, will become the U.S. head of bank and institutional finance at Dewey...
A CAUTIONARY NOTE FROM DEWEY & LEBOEUF: In simple terms, it appears that Dewey (a) overpaid for M&
A CAUTIONARY NOTE FROM DEWEY & LEBOEUF: “In simple terms, it appears that Dewey (a) overpaid for M&A both big (firm mergers) and small (lateral partners), and (b) acted like it was making more money than it was, while not fully recognizing liabilities...
Dewey Shakes Up Management in Bid to Turn the Page
Faced with a spate of high-level departures, questions about its fiscal health, and a wave of negative publicity, Dewey & LeBoeuf's leadership team told partners late Monday that, pending their approval, the firm will replace its current governance structure with a five-member "office of the chairman" and that M&A partner Stephen Horvath will take control of day-to-day operations.
Incoming Dewey Associates in Limbo As Firm Weighs Restructuring Options
Law students who spent last summer at Dewey & LeBoeuf and expected to begin working there this fall, as well as those who planned to spend the summer of 2012 at Dewey, are among those with a keen interest in the embattled firm's fate...
Dewey Matches Market for Bonuses, Leaves Lockstep in Place
Dewey & LeBoeuf has announced bonuses, and the firm plans to match the market this year. Other big news: Dewey won't be breaking lockstep anytime soon.
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