Ashby Jones has been tracking Howrey’s implosion for the Wall Street Journal Law Blog (http://on.wsj.com/ltn617). A recent post caught our eye: “CEO Ruyak Partly Blames Contingency-Fees, Discovery Vendors, for Howrey’s Fall.” Jones cites colleague Vanessa O’Connell’s interview with Robert Ruyak, conducted shortly before the firm dissolved. The firm, at its peak, had 750 lawyers, and used the slogan “In Court Every Day,” to frame itself as a “go-to” litigation and IP practice.
Ruyak said the 2008-2009 litigation slowdown, and the firm’s decision to take on more contingency cases, created “unsettling swings” in profits and triggered defections. But he also blamed the collapse on the rise of third-party document discovery specialists offering lower rates, O’Connell reported.
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