John J. Altorelli

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Today’s post is written by Michael Allen, the Managing Principal of Lateral Link, who focuses exclusively on partner placements with Am Law 200 clients.

Near the entrance of the Calyon Building, the previous headquarters of Dewey & LeBoeuf, lies Jim Dine’s “Looking Toward the Avenue,” a triumvirate of headless statues inspired by the Venus De Milo. Where lie the visages of this homage to the prototypical form of Venus and furthermore, in the aftermath of Dewey, where have the pieces of this former empire landed?

Since May of 2012, there have been numerous articles inciting gossip and foretelling the troubles of Biglaw, but few have offered a retrospective of the overall trends in lateral moves from Dewey since the closure of the firm. The “largest winner” of the Dewey sweepstakes was Winston & Strawn, which added 23 partners (about 11% of those who moved in the final month), including Jeffrey Kessler, a titan of antitrust law who has represented every players’ union in the “big four” sports in the United States. Approximately seventy lawyers followed Kessler’s group.

Which other firms fared well in picking up Dewey lawyers?

double red triangle arrows Continue reading “Where Did Dewey & LeBoeuf’s Big-Name Partners Land?”

So this isn’t a proper “Career Alternatives for Attorneys” post, but if the Russian Federal Security Service (FSB) — the successor to the KGB — had their way, we would one day soon watch Spencer Mazyck of Bloomberg sitting down to interview a Russian spy.

When you think about it, Biglaw attorneys share a lot of qualities with spies: working long, odd hours; poring over reams of government documents searching for a few nuggets of information; and feeling that any mistake could cost them their lives.

If you feel you have what it takes to become a spy, give Russia a call because they’re all butthurt over losing out on a potential Biglaw spy…

double red triangle arrows Continue reading “A Biglaw Lawyer Who Was Asked to Spy for Russia”

‘You may take our false hopes for employment, but you will never take our right to sue!’

* Many have compared the possible outcome of the gay marriage cases to the Roe v. Wade decision, saying that constitutionalizing the right to gay marriage will create a similar culture war. Relax, bro, your bigotry is showing. You won’t be any less married if everyone has equal rights, promise. [New York Times]

* Everyone thought Justice Kennedy was going to be the deciding voice in the Obamacare case, and that didn’t happen, but when it comes to the future of gay marriage, in the words of RuPaul, Kennedy’s got the right amount of “charisma, uniqueness, nerve, and talent” to save the day (at least as far as California’s Proposition 8 is concerned). [Sacramento Bee]

* Meanwhile, people waiting in line outside of the Supreme Court in the hopes of grabbing one of the 50 seats reserved for the public like it’s a Black Friday sale outside of Walmart. Unemployed law grads, just think, you could be getting paid to sleep outside in a tent right now! [The Caucus / New York Times]

* Modern-day legal education is a “failure” in the eyes of this Supreme Court justice. Now don’t get it twisted, Scalia wasn’t referring to the post-graduate employment crisis that we’ve all come know and loathe — he just thinks we need fewer “law and [insert bullsh*t here]“ classes. [Portsmouth Herald]

* Dewey know when we’ll be able to retire this punny phrasing? Unfortunately, there doesn’t seem to be an end in sight because more than a dozen former partners (including John Altorelli of spy-shagging fame) are still clinging to their claims that the failed firm’s estate owes them money. [Am Law Daily]

* Seeing as Widener’s motion to dismiss as to its allegedly deceptive job statistics was denied, it looks like there’s still time to rally behind the law school litigation cause. Someone on Team Strauss/Anziska needs to go all William Wallace and inspire more would-be plaintiffs to sue. [Law 360 (sub. req.)]

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.

double red triangle arrows Continue reading “Dewey Have Career Advice for Incoming and Summer Associates?”

Over the weekend, when it looked like lenders to Dewey & LeBoeuf might be willing to give the troubled law firm more time to sort out its finances, I observed that “LeBoeuf is not yet cooked.” But it now looks like my fairly charitable assessment was unduly, or maybe even wildly, optimistic.

Can you say “warm red center”? As we reported yesterday, another slew of Dewey partners — about eleven in all, including former chairs of the tax practice and the corporate finance practice — started heading for the exits.

And perhaps they’re doing so with the blessing of firm management. Check out what D&L is now telling its partners….

UPDATE (10:10 AM): Now with text of memo appended.

UPDATE (10:30 AM): Now with discussion of London office added.

UPDATE (11:10 AM): Now with comments from Martin Bienenstock, a member of the firm’s four-person “Office of the Chairman.”

double red triangle arrows Continue reading “Dewey Have Any Shot of Surviving? Internal Memo Urges Partners To Seek ‘Alternative Opportunities’”

* California is cutting prisons. That’s step one. Step two is to shuttle all the prisoners to Los Angeles. Step three involves a series of earthquakes… [McClatchy]

* Private equity billionaire Stephen Schwarzman isn’t into 50 Shades of Grey (affiliate link). But David Lat apparently is. I dunno, if you are going to bother with that kind of stuff, you might as well hit Brazzers and get it over with. [Dealbreaker]

* I’m all for making sure that the Violence Against Women reauthorization prevents violence against women, not annoyances against women, or criticism against women. [The Volokh Conspiracy]

* Speaking of violence against women, I never blame the victim, but dating gun-toting dumbasses rarely helps matters. [Legal Blog Watch]

* @chrisdanzig: Stop bullying Obama @realjonlovitz. Leave him alone. Leave Obama alone! [Huffington Post]

* What do Vladimir Putin and former Dewey partner John Altorelli allegedly share in common? Are you sure you want to know? [New York Post]

Today, as you probably know, is the deadline for filing your taxes. As was the case last year, the combination of April 15 falling on a weekend and the little-known holiday of Emancipation Day pushed the filing deadline back a bit.

Did you appreciate the extra time to fill out your tax return? Partners at Dewey & LeBoeuf probably did, due to some problems with their K-1 forms.

And speaking of partners at Dewey, their numbers continue to decline. Let’s look at the latest defections, as well as the tax issue.

UPDATE (10:30 AM): The game of musical chairs continues. Six more Dewey departures, which we learned about shortly after publishing this post, after the jump.

double red triangle arrows Continue reading “Dewey Know How To Do The Taxes?”

It’s getting hard to keep track of all the partner departures from Dewey & LeBoeuf. Thankfully, over at Am Law Daily, Sara Randazzo and Nate Raymond have this handy round-up. The bottom line is that the firm has 53 fewer partners than it did in January: one retired, one left for personal reasons, one went in-house, and fifty (50!) jumped over to rival law firms. You can review the biggest beneficiaries of Dewey defections over here.

So what Dewey do about the problem of fleeing partners? We get medieval on the cowards….

double red triangle arrows Continue reading “Dewey Have Trouble Holding On To Partners? There’s an App for That”

John Altorelli

Who is to blame for the recent troubles afflicting Dewey & LeBoeuf, the global mega-firm created from the 2007 merger of Dewey Ballantine and LeBoeuf Lamb? In our recent reader poll, we offered four options: the legacy Dewey side, the legacy LeBoeuf side, both sides, or neither side.

Prominent M&A and private equity lawyer John Altorelli, who recently left Dewey to become a partner at DLA Piper, has some opinions on this issue. In a recent interview with Am Law Daily, he offered a candid diagnosis of what brought D&L to where it stands today, as well as an assessment of its future prospects.

Altorelli was less forthcoming when the New York Post contacted him over the weekend about his alleged love affair with a beautiful Russian spy (her picture after the jump)….

double red triangle arrows Continue reading “Former Dewey & LeBoeuf Partner Kisses and Tells
(About D&L, Not His Alleged Affair With a Russian Spy)”

Defections continue at Dewey & LeBoeuf. On Tuesday, the WSJ Law Blog and Thomson Reuters reported on the departure of four M&A lawyers for DLA Piper. As we mentioned on Monday, antitrust litigator Eamon O’Kelly just flew the Dewey henhouse for Arent Fox. The recent departures take the number of partners who have left Dewey in 2012 to at least 40 (a decrease of about 13 percent in partner headcount).

The four attorneys who just jumped to DLA are John J. Altorelli and Alexander G. Fraser, who were partners at Dewey, and Patrick Costello and Gerald Francese, who were counsel. All four will be partners at DLA, and Altorelli will serve as co-chair of DLA’s U.S. finance practice, as well as a member of the executive committee. Although DLA is not a paradise, presumably the Dewey defectors determined DLA Piper to be more stable than Dewey (unless they took an “any port in a storm” approach, which is certainly possible).

In other Dewey news, the American Lawyer is revising the 2010 and 2011 financial results for Dewey — downward. And we’re hearing rumblings about some of the firm’s international offices….

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(Plus information on international offices.)