Depressing Things

Since our Friday photo essay on Dewey & LeBoeuf, the once-proud law firm that probably isn’t long for this world, numerous other outlets have produced some excellent Dewey coverage. We mentioned two of the pieces, about partner problems and unpaid janitors’ bills, in today’s Morning Docket.

It’s interesting to see how the pace of the Dewey story is shifting. We’re moving from the breathless breaking of news into a period of longer pieces focused on analysis and narrative. This makes sense, given that most of the major events have already transpired (with the exception of formalities that will be big news if and when they do occur — e.g., an official vote of dissolution, a filing of bankruptcy, etc.).

So let’s do a more comprehensive review of the latest Dewey stories from around the web. We bring you more theories of blame, more partner departures, and more revelations about the personal life of former chairman Steven H. Davis….

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As a law student, having an article accepted for publication in a law review or journal is usually a great way to ensure that your résumé lands on the top of the enormous stack of papers on the hiring partner’s desk. Having a degree from Harvard Law School is an even better way to do the same thing. But the ultimate claim to success is having both of these things. You’ll get the Biglaw job that you’ve always dreamed of, and a six-figure paycheck to pay off your matching six-figure debt.

Unless you’ve been accused of plagiarism. Then you can kiss all of your dreams goodbye, and say hello to the unemployment line. This is what one recent Harvard Law graduate claims happened to her in a lawsuit against her Ivy league alma mater….

double red triangle arrows Continue reading “Harvard Law Grad Makes JOLTing Discovery: Accusations of Plagiarism Can Ruin Lives”

As of this morning, the Dewey & LeBoeuf web site is still live and trumpeting, among many other things, the firm’s recent award for “Private Equity Law Firm of the Year in Poland.”

Meanwhile, back on Earth and/or the rest of the internet, industry observers have been feeling a bit like voyeurs at a pre-mortem autopsy. Everyone agrees that the downfall of this once-great firm is hugely sad (well, nearly everyone), but there is less of a consensus about who or what is to blame.

Last week we asked the ATL readership for their take on where fault lies. Here’s what you had to say….

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'I'm ending my 1L year with a B-minus average. What's the point in going on?'

Lat here. Your Above the Law editors occasionally receive requests for advice from readers, to which we sometimes respond. Back in March, for example, Elie Mystal and I debated the merits of Harvard Law School versus Yale Law School, for the benefit of a prospective law student choosing between these two fine institutions. In case you’re wondering, he’s going to Yale.

(The future Yalie explained his decision this way: “I didn’t want to take the chance that even if I worked harder at HLS, I could still be ranked below enough outstanding students to not impress a professor, land a good clerkship, etc. I also got the impression that this risk-averse mentality was what drove many people who were on the fence between YLS and HLS to eventually choose YLS.”)

Choosing between Harvard and Yale is a high-class problem. Today we look at a situation that we’ve addressed before, in 2010 and 2011, and that continues to confront our readers. The question presented: If you do poorly in law school, should you cut your losses and drop out? Or should you keep on trucking and collect that J.D. degree?

We have two fact patterns. One involves a 1L, and one involves a 2L. Let’s hear them out, shall we?

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Last night, when we reported the news of secretarial staff layoffs at Dewey & LeBoeuf, we mentioned a prediction of additional layoffs today — i.e., Tuesday — or later in the week. That prediction has already come to pass — like so many predictions about Dewey, sadly.

Last night, they came for the secretaries. This time, they’ve come for the associates….

double red triangle arrows Continue reading “Dewey Know When LeBoeuf Is Cooked? When Associates Are Laid Off En Masse”

The revolving door continues to spin, quite furiously, at the rapidly collapsing Dewey & LeBoeuf. We mentioned some of the latest partner departures in last night’s post (which we updated again this morning).

These are major defections, which strike at the heart of what was left of the firm. In case there was any doubt after last Friday’s WARN Act notice or yesterday’s big layoffs, it may soon be time to stick a fork in LeBoeuf.

So what’s the latest word on who is going where?

double red triangle arrows Continue reading “Dewey Have Any Partners Left To Be Poached? Not Many After the Latest Departures”

On Friday, we broke the news of Dewey & LeBoeuf issuing a WARN Act notice to its U.S. employees. As explained by the U.S. Department of Labor, the WARN law generally requires an employer “to provide notice 60 days in advance of covered plant closings and covered mass layoffs.”

We noted, however, that employees shouldn’t be lulled into complacency by the 60-day requirement. As Elie wrote, “Dewey employees shouldn’t expect to just show up to work every day until Independence Day. Remember, we’ve learned from the Heller dissolution and other firms’ dissolutions that things tend to happen very quickly.”

Very quickly indeed. We are now hearing reports that this Friday, May 11, will be the last day for an unknown number of D&L employees….

As usual with the fast-moving Dewey story, we have multiple UPDATES, including some from Tuesday morning, after the jump.

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The U.S. employees of Dewey & LeBoeuf received a letter today that many of them have been expecting for a long time.

It was a note warning people to prepare for the worst. It was a letter finally admitting to firm employees that “it is possible that adverse developments could ultimately result in the closure of the firm.”

So, now we’re on notice…

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Yesterday, partners at Dewey & LeBoeuf received their $25,000 monthly partner draws. For many of them, that might be the last check they receive from the embattled firm.

Over 100 Dewey partners have left the firm since the start of the year. But we now have reports that as many as 200 people, including a large number of partners, will be departing today. Apparently, “the banks” (i.e., Dewey creditors) are calling the shots now. As we reported yesterday, we seem to be moving forward toward a May 15th end date for Dewey.

But as they say in Lion in Winter: when the fall is all there is, it matters….

double red triangle arrows Continue reading “Dewey Know When It’s Over? Source Says ‘We Work For The Banks Now’”

Since this afternoon’s big Dewey & LeBoeuf development, namely, the defection of Morton Pierce and seven other partners to White & Case, there has been some additional news. It concerns the timing of Dewey’s possible shutdown, a subject that has been the subject of much speculation lately.

One rumor had the firm closing its doors as early as tomorrow. Another suggested a date closer to Memorial Day. The truth may lie somewhere in between: according to sources cited by Am Law Daily (reg. req.), “Dewey is poised to close by May 15 and possibly sooner.”

(Also at Am Law, a very handy Dewey Departure Tracker. It lists each defector’s name, practice area, departure date, new firm, and location. It’s a great resource.)

The May 15 date makes some sense. As reported by Thomson Reuters News & Insight, on Monday the firm received a two-week extension from lenders for renegotiating its $100 million credit line. Assuming the parties can’t reach a new agreement, which seems like a good assumption right now, the new deadline would fall on or about May 15, the shutdown date mentioned by Am Law.

Compared to other outlets, we’ve been focusing a lot on the human side of the Dewey story. We’ve talked about the partners, including the particular partners who might be blamed for Dewey’s demise. We’ve talked about the staff, bringing you a paralegal’s lament.

Tonight let’s consider the fate of would-be Dewey associates, both full-time and summer associates, who now find themselves left in the lurch….

As usual, UPDATES — including one relating to support staff — after the jump.

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