Dewey & LeBoeuf

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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MCA

* I think I entirely agree with Eugene Volokh, who in turn agrees with the Eighth Circuit, which agreed with the lower court, that a school board is well within its rights to call a website unreliable. [The Volokh Conspiracy]

* Steve DiCarmine, the now-former executive director of Dewey & LeBoeuf, has retained counsel. [Thomson Reuters News & Insight]

* Rajat Gupta’s lawyers are applying a defense they must have learned in grade school. [Dealbreaker]

* Do brown people in Arizona who are legal immigrants get extra time off school to deal with being hassled by any cop who wants to “check their status”? Didn’t think so. [WSJ Law Blog]

* Apparently, courtroom fashion only matters if you are attractive. [Huffington Post]

* Pit bulls are the black people of dogs. [Legal Blog Watch]

* I assume insurance lawyers check people’s Facebook history as a regular matter of course. [Not-So Private Parts / Forbes]

* R.I.P. Adam Yauch. All you sucker MCs better recognize. [What About Clients?]

April showers are supposed bring May flowers, but in the law world, April just showered us with a bunch of ridiculous lawyers acting like complete a-holes. One can only hope that May’s crop of nominees for the Lawyer of the Month contest brings us some more worthy competitors.

Drunken hotties? We’ve got ‘em. Nasty note writers? We’ve got those, too.

Let’s check out our nominees for April’s Lawyer of the Month competition….

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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….

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* My Big Fat Dewey Compensation Guarantee: it’s like a movie that no one wants to watch, except it’s happening in real life. But at least the partners got their draws, right? [Reuters; DealBook / NYT]

* Why didn’t John Edwards’s former aide disclose to the government that he refused to lie under oath about his affair? “Because you never asked.” Best. Response. Ever. [MSNBC]

* Maybe Mintz Levin didn’t belong on the list of the Top Ten Family-Friendly Firms after all. The firm’s been sued twice in recent years for sexual discrimination. Oops. [Careerist]

* Baylor Law claimed the top pass rate on the Texas bar exam for the fifteenth time since 2001. Unfortunately, Baylor Law cannot claim a top pass rate on disclosure of private student information. [Baylor University]

* In America, lawyers are pissing off state bar associations by offering their services on Groupon. En México, no es un problema. There, you can buy gift cards for the gift that keeps on giving… divorce! [Huffington Post]

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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[T]he only thing holding many large firms together now is money. No shared history. No shared values. Money by itself is weak glue.

William Henderson, a law professor at Indiana University, speaking to Dan Slater of the Daily Beast about how a storied firm like Dewey & LeBoeuf can fall so fast and so hard.

Morton Pierce

This just in: superstar M&A lawyer Morton A. Pierce is leaving Dewey & LeBoeuf, the beleaguered Biglaw behemoth. This news should not shock anyone; rumors of Pierce’s possible departure have been making the rounds for weeks now.

So where is Morton Pierce going?

As we’ve been doing when covering this breaking story, we’ve added multiple UPDATES, after the jump.

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Nancy 'Newsworthy' Benoit

* With the SNR Denton merger talks dead, partners waiting only to be paid before they leave, and sad, empty tables at events, LeBoeuf seems to be cooked. [DealBook / New York Times; Wall Street Journal (sub. req.)]

* A gem from the Eleventh Circuit: if you believe it’s newsworthy, it is. Even naked pictures of dead girls. Now stop hoping a hot girl dies, sickos. [CNN]

* If there’s one thing judges are good at, it’s keeping their law clerks white. They’ve made no progress in increasing diversity. [National Law Journal]

* Some law school grads bitch and moan about the “student loan scam,” but others just do what they went to school for, and sue about it. [ABC News]

* The social media machine that is Mark O’Mara can’t be stopped — judge’s orders. And George Zimmerman is going to like and retweet that until the cows come home. [Boston Herald]

* Here’s infringing on you, kid. British fashion house Burberry insists that a California company stop Bogarting its rights to Humphrey’s trademark and likeness, all for the sake of promotional materials. [Bloomberg]

Dewey & LeBoeuf's sign at 1301 Avenue of the Americas. (Photo by David Lat. Feel free to use.)

Let’s take a step back from the hurly-burly of day-to-day, hour-by-hour coverage of Dewey & LeBoeuf, the once-powerful law firm that could soon find itself in bankruptcy or dissolution. We will return to bringing you the latest Dewey news in tomorrow’s Morning Docket. (Of course, as you may have noticed, we added many updates to Tuesday night’s story; refresh that post for the newest developments.)

Let’s take a step back, and ask ourselves: Who is to blame for this sad state of affairs? And what lessons can be learned from the Dewey debacle?

Multiple UPDATES, including a short bio of Stephen DiCarmine, after the jump.

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