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About 20 lawyers at Dreier Stein Kahan Browne Woods George, the Santa Monica, California-based affiliate of Dreier LLP, are leaving to reconstitute Browne Woods George, a litigation boutique that merged with Dreier, Stein & Kahan one year ago.
Marc Dreier, founder and managing partner of New York’s Dreier LLP, was charged by federal prosecutors and the SEC with masterminding an investment fraud of more than $100 million.
Dreier is the only equity partner in Dreier, Stein, Kahan, Browne, Woods, George, which was formed in 2007 and employs several prominent Los Angeles lawyers; entertainment lawyer Larry Stein; corporate attorney Robert Kahan; and Eric George, a business litigator and the son of California Supreme Court Chief Justice Ronald M. George.
The California firm’s partners sent a letter to Dreier last week, saying he breached their employment contract, which guaranteed a certain compensation for three years. The partners have a multimillion dollar arbitration claim filed against Dreier.
Browne Woods George also is in negotiations to recruit up to four class action lawyers from Dreier LLP to open a New York office.
About 35 lawyers remaining at Dreier, Stein, Kahan, Browne, Woods, George, including Stein and Kahan, are in talks with several firms to merge. Among the possible merger candidates are LA’s Liner Yankelevitz Sunshine & Regenstreif; Pittsburgh’s Buchanan Ingersoll & Rooney; Boston’s Mintz, Levin, Cohn, Ferris, Glovsky & Popeo; New York’s Kramer Levin Naftalis & Frankel; and Atlanta’s Troutman Sanders.
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The firm’s entertainment group and most of the corporate group are looking to stay together as part of a possible merger.
Via NLJ.
