Alexandra Marchuk’s headline-grabbing lawsuit against her former firm, Faruqi & Faruqi, has generated a lot of headaches for the firm. It has given rise to some bad PR. It has created client concerns. It has distracted the firm from its mission of shaking down corporate America vindicating shareholder rights.
And is it now causing the high-profile boutique to lose lawyerly talent? Here’s what we’re hearing….
Earlier this week, we received a snail-mail letter stating simply, “Juan Monteverde’s entire team resigned last week.”
True? Not completely, but it had some grains of truth (like so many rumors). We reached out to the firm, which responded through a spokesperson:
The report that you received about Juan Monteverde’s entire M&A team resigning is completely wrong. A partner who was with the Firm for just one year and two junior associates resigned. The Firm has already replaced them and the M&A team has even been strengthened with two new partners and a senior associate. The M&A team thus remains 10 attorneys strong.
Interesting. Were the resignations prompted by the Marchuk litigation? Or did the departing lawyers find other aspects of the Faruqi firm not to their liking? As we’ve discussed, it’s not the warmest and fuzziest of workplaces — unless you happen to enjoy ANGRY ALL-CAPS EMAILS FROM THE MANAGING PARTNER.
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If you have additional information about these departures — the lawyers who left, where they went, and why they moved — feel free to email us, text us (646-820-8477), or yes, snail-mail us (Above the Law, 611 Broadway, Suite 907D, New York, NY 10012). Thanks.