Large firm’s demise impacts mergers

July 9, 2012
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Altman Weil MergerLine is calling it the “Dewey Effect:” a slowdown in mergers and acquisitions by law firms following the end of Dewey LeBoeuf.

Dewey LeBouef, a law firm out of New York with more than 1,000 attorneys, filed for bankruptcy in the spring. Before that, partners were leaving the firm in droves, leading many to speculate that the end was near for the firm.

“The demise of Dewey LeBouef this spring put over a thousand lawyers and hundreds of millions of dollars of business into play, shifting the short-term focus of many law firms to those opportunities,” said Altman Weil principal Ward Bower.

Seven mergers were reported in the United States in April; there were just two in May and two in June. This follows six quarters that averaged 15 mergers.

 

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  1. KUDOS to the Indiana Supreme Court for realizing that some bureacracies need to go to the stake. Recall what RWR said: "No government ever voluntarily reduces itself in size. Government programs, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we'll ever see on this earth!" NOW ... what next to this rare and inspiring chopping block? Well, the Commission on Gender and Race (but not religion!?!) is way overdue. And some other Board's could be cut with a positive for State and the reputation of the Indiana judiciary.

  2. During a visit where an informant with police wears audio and video, does the video necessary have to show hand to hand transaction of money and narcotics?

  3. I will agree with that as soon as law schools stop lying to prospective students about salaries and employment opportunities in the legal profession. There is no defense to the fraudulent numbers first year salaries they post to mislead people into going to law school.

  4. The sad thing is that no fish were thrown overboard The "greenhorn" who had never fished before those 5 days was interrogated for over 4 hours by 5 officers until his statement was illicited, "I don't want to go to prison....." The truth is that these fish were measured frozen off shore and thawed on shore. The FWC (state) officer did not know fish shrink, so the only reason that these fish could be bigger was a swap. There is no difference between a 19 1/2 fish or 19 3/4 fish, short fish is short fish, the ticket was written. In addition the FWC officer testified at trial, he does not measure fish in accordance with federal law. There was a document prepared by the FWC expert that said yes, fish shrink and if these had been measured correctly they averaged over 20 inches (offshore frozen). This was a smoke and mirror prosecution.

  5. I love this, Dave! Many congrats to you! We've come a long way from studying for the bar together! :)

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