As Bingham McCutchen engages in merger talks in an effort to reshape its future, the firm is still coping with the fallout from one of its many past combinations.
Five years ago this month, Bingham joined with McKee Nelson in a deal that saw every partner from the latter firm receive a guaranteed contract. The deal—the latest in Bingham’s robust acquisition history—now raises questions as to what role it played in the lead-up to the firm’s current financial state, with revenue and profits plunging in 2013 to mark its worst financial performance ever.
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