Credit: Who is Danny/Shutterstock'This Trend Isn't Over': Law Firm Partner De-Equitizations Expected to Continue
Multiple Am Law 100 firms, as well as midsize and regional law firms, have de-equitized partners in recent months. More are likely to follow suit.
December 04, 2024 at 11:00 AM
4 minute read
What You Need to Know
- Multiple Am Law 100 firms, as well as midsize and regional law firms, have de-equitized partners in recent months.
- One source said de-equitization is, 'in most cases, is simply sound financial management of the firm.'
- Industry sources predict more firms will follow suit, and that more firms are likely to adopt a two-tier model.
Law firms are becoming increasingly comfortable de-equitizing partners, especially those who aren’t contributing to the bottom line, legal industry consultants and recruiters say, and it's a trend likely to continue into the next year.
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Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
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