Cooley offices in Washington, D.C. Photo: Diego M. Radzinschi/ALM Cooley's 'Performance-Based' Layoffs Also Hit High-Achievers
Sources close to the firm said Cooley let go of associates with positive performance reviews due to a lack of work in practices such as venture capital and capital markets.
November 10, 2022 at 05:00 AM
4 minute read
Law Firm Associates
Despite receiving bonuses and high marks for strong performance at the beginning of the year, some associates at Cooley's Bay Area and New York offices were laid off anyway between August and October as hours dried up in the firm's capital markets and venture capital practices.
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Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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