Hiring partners and recruiting coordinators at Wachtell and S&C, it’s time to break out the champagne:
CRAVATH HAS BEDBUGS!!!
Yes, that’s right. The Worldwide Plaza headquarters of Cravath, Swaine & Moore — perhaps the country’s most prestigious law firm, and one of its most profitable — has some unwelcome visitors. And no, 2L interview season ended months ago.
Here’s what we’ve learned, from multiple sources at CSM:
1. An email was sent around Cravath last week about the presence of bed bugs at the firm.
2. A few bedbugs were found on two floors, the 21st floor and the 41st floor, which are being fumigated.
3. Two employees had bedbugs in their apartments and told the firm, which caused the firm to investigate.
4. The 21st floor is a paralegal / administration floor, but the 41st floor is a litigation floor — which means that one of the two employees may be a lawyer.
6. Both of the employees are still with the firm (i.e., they have not been fired, like the poor soul at Cadwalader who, rumor has it, got canned after self-reporting).
7. The email about the bed bug problem was protected against forwarding or copying.
Apparently Cravath and Cadwalader have something in common other than the Bear Stearns deal. [FN1]
As you may recall, in June 2007, Cadwalader reported a bedbug problem. A few months later, they announced lawyer layoffs.
Are associate layoffs like bedbugs? Will they start off at relatively less prestigious firms — we say “relatively,” since Cadwalader is still plenty prestigious (#26 on the Vault 100) — and move all the way to the top of the list? Will Rodge Cohen and Ed Herlihy be scratching themselves furiously as they negotiate the next big bank merger?
Words of wisdom to incoming Cravath summer associates: go to as many events as you can, and spend as little time as possible at the Death Star. May the force be with you.
We contacted Cravath, which declined comment through a spokesperson. If you have anything to add on the situation, please feel free to email us. Thanks.
[FN1] The bedbug email went around Cravath before the JP Morgan Chase / Bear Stearns deal was initiated. So there would be no merit to a conspiracy theory that Cadwalader gave the cooties to Cravath by sneaking them into a box shipment destined for Worldwide Plaza.
Earlier: Breaking: Cadwalader Overrun By Bed Bugs!!!