A proposed settlement presented July 11 to former Dewey & LeBoeuf partners asking them to chip in between $25,000 and $3 million apiece in exchange for a waiver of liability related to the bankrupt law firm is already meeting serious resistance, with initial reactions ranging from skepticism to anger.
Some former partners and the lawyers who represent them question, among other things, why the plan makes no effort to more heavily charge those who helped lead the firm into its downward spiral. Instead, partners are being unilaterally asked to return of a portion of their earnings from 2011 and 2012 on a sliding scale ranging from 10 percent for the lowest earners to 30 percent for its most highly paid rainmakers.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
