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After Years of Growth, Firms Pare Down Staffs, Budgets
The softer economy is having a tangible impact with layoffs, reassignments and pay cuts taking hold after years of steady growth. But some firms place the blame for the changes on other factors. Steven Sonberg, managing partner of Holland & Knight, says when he and other firm leaders determined the firm was overstaffed because of changes in technology, they laid off 70 legal secretaries and accounting and IT staffers. "It did not reflect a softness or weakness in our performance," he says.Wolf Block, Drinker Biddle lay off associates
Move over New York, it's Philadelphia's time in the hot seat. Wolf Block has laid off 15 associates and staff and Drinker Biddle & Reath let go of somewhere around 20 or fewer attorneys on Friday, according to Above the Law. And according to one consultant, the Pennsylvania market could most likely expect to see more attorney cuts in the new year as firms wait out the holiday season.Ruden's assets acquired by Greenspoon
Ruden McClosky, once one of Florida's largest law firms, filed for Chapter 11 bankruptcy protection on Tuesday and signed an asset purchase agreement with Greenspoon Marder to create a 140-lawyer firm under the Greenspoon name. If approved by a federal bankruptcy judge, the sale would close by Dec. 1.Investors file involuntary bankruptcy petition against Jiangbo Pharmaceuticals
Jiangbo, a Florida corporation headquartered in China, was facing SEC administrative proceedings for failing to file its 2011 annual report and three quarterly reports.Greenberg Traurig opened as a Miami boutique firm in 1967, grew to 35 offices
Greenberg Traurig has grown from a Miami transactional boutique to an international firm with 1,750 lawyers in 35 offices.Consumer credit case appeals grow
A wave of Fair Credit Reporting Act suits concerning whether automobile, credit card and mortgage lenders unlawfully accessed consumer credit reports before mailing preapproved credit offers is jamming appeals courts. The cases-which claim that the lenders violated the act by not making a "firm offer of credit" after accessing the credit reports without consumers' consent-have also generated conflicting district court decisions.Rothstein Trustee Jockeys For Position In Bankruptcy Of Former Versace Mansion
Five secured creditors in the Chapter 11 case of mansion owner Casa Casuarina LLC objected to Scott Rothstein trustee Michael Goldberg's claim for an equitable lien on the South Beach property.Trending Stories
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