SAN FRANCISCO — When tech companies go public, they almost always hire a single law firm. But Square Inc.’s initial public offering suggests that could change.
When the mobile payment company had its IPO late last year, general counsel Dana Wagner encouraged the company’s board to hire two marquee law firms: Wilson Sonsini Goodrich & Rosati and Wachtell Lipton Rosen & Katz. “Wilson Sonsini is the gold standard-setter in tech IPOs, particularly Silicon Valley and Bay Area tech IPOs. …Wachtell is the gold standard-setter in complex corporate governance issues,” Wagner said. “We wanted the best of both of those worlds.”
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