Hard facts are difficult to come by, especially when the firm does not respond to requests for comment. But a tipster reports that Thacher Proffitt & Wood did have an associates meeting yesterday (as expected). At that meeting, we understand that associates were informed that TPW’s litigation department would close on December 31st.
No mention was made of any severance package that would be offered to displaced associates, nor was there discussion of any WARN obligations for the firm. TPW representatives did not respond to requests for comment last night.
Just the other day, we reported:
According to our tipsters, whether or not there is a rescue by King & Spalding, Thacher’s litigation department won’t be a part of it. Word on the street is that the head of litigation is leaving TPW tomorrow.
The head of TPW’s litigation department is Richard Hans. Our sources tell us he is still with the firm during the merger negotations with K&S, but his contact information is no longer available on TPW’s website.
We will keep you posted with any additional TPW news as it comes in. If you have info to share, please email us (subject line: “Thacher Proffitt”). Thanks.
Update (10:25 AM): Multiple tipsters report that Richard Hans is leaving TPW for DLA Piper, his former firm. Word is that he will be taking a few attorneys back with him.