Biglaw

Dewey & LeBoeuf Trial Has the World’s Attention
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Dewey & LeBoeuf Italy

Summary: With all big mistakes, there are lessons to be learned and the mistakes of Dewey & LeBoeuf are no different.

Dewey & LeBoeuf LLP was a major international law firm before its monumental collapse in 2012. Former employee Bruno Gattai believes there is a big lesson we can learn from Dewey.

  
What
Where


Gattai led 18 partners and 100 lawyers and staff in the two Italian offices of Dewey. He now leads private equity M&A Milan firm Gattai, Minoli, Agostinelli & Partners. He has been following the case from Italy and thinking about how the other firms can learn from it.

The first big lesson is that Big Law firms have a big Achilles heel because they do not have the tangible assets that translate to cash like smaller firms have. The turnover in the large law firms is similar to smaller sized ones, but they are at a greater risk of collapsing when large numbers of people leave. This has been used as part of the reason that Dewey failed.

The trial has highlighted the many years that the firm was winding down, starting in 2007 when Dewey Ballantine LLP and LeBoeuf, Lamb, Greene, & MacRae LLP merged together. In 2012, there was a mass exodus of partners due to the firm’s missed opportunities.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Gattai says that other firms should learn to keep the base costs down while fostering a culture of loyalty with partners in order to not repeat Dewey’s mistakes. Dewey had 40 partners at one time on their executive committee, allowing the frustration and confusion over accountability to happen.

Source: http://blogs.wsj.com/law/2015/07/15/attention-on-dewey-trial-spans-globe/



Photo: legalweek.com



 

RELEVANT JOBS

Personal Injury Insurance Defense Attorney

USA-CA-Los Angeles

Hickey Smith Dodd is seeking a Personal Injury Insurance Defense Attorney in the Southern California...

Apply now

Associate Attorney - Defense Litigation Experience

USA-TX-Dallas

Galloway\'s Dallas office is seeking an Associate Attorneys with 2 - 5 years of experience to handle...

Apply now

Part-time Staff Attorney – Housing and Homelessness Prevention Unit

USA-CA-Santa Ana

  Part-time Staff Attorney – Housing and Homelessness Prevention Unit ...

Apply now

Staff Attorney – Housing and Homelessness Prevention Unit

USA-CA-Santa Ana

Full-time Staff Attorney – Housing and Homelessness Prevention Unit Organization Descriptio...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top