De-equitized partners

Earlier this year, the U.S. Equal Employment Opportunity Commission sued Kelley Drye & Warren for stripping aging partners of equity in the firm.

Here at ATL, we have mixed feelings about the elderly. In an ATL debate over mandatory retirement policies at law firms, Elie endorsed kicking old partners to the curb, while I objected to age discrimination policies. The EEOC also sees age bias in mandatory retirement.

Five years ago, Sidley Austin paid $27.5 million to settle a EEOC complaint on behalf of 32 de-equitized partners. But it looks like Kelley Drye will resist settling, and is not afraid to rough up the ‘decrepit’ New York partner, Eugene D’Ablemont, who wants to keep raking in the big bucks…

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