In a significant shakeup in the legal industry, the venerable New York-based law firm Stroock & Stroock & Lavan faces dissolution, marking the end of its 147-year history. The decision to shutter the firm came after several lawyer departures over the past year and unsuccessful merger negotiations with larger firms. The aftermath of this development has seen a surge in opportunities for rival law firms to poach legal talent from Stroock.
Firms Seize Opportunities
Crowell & Moring, Hogan Lovells, Steptoe & Johnson, Squire Patton Boggs, and Thompson Coburn lead the charge in recruiting from the disbanding firm. These firms have swiftly capitalized on the situation, strategically acquiring partners and lawyers from Stroock to fortify their ranks in New York and beyond.
Crowell & Moring’s Strategic Move
Washington, D.C.-based Crowell & Moring announced the addition of former Stroock financial services litigation partner Joshua Sohn and nine other Stroock lawyers. This move is part of Crowell’s proactive strategy to enhance its legal capabilities and expand its presence in the competitive New York legal market.
Hogan Lovells Bolsters New York Operations
Hogan Lovells, having recently named 28 partners from Stroock, including co-managing partner Jeff Keitelman and other practice leaders, stands out as the firm with the largest group recruited from Stroock. This significant influx of legal talent is expected to strengthen Hogan Lovells’ operations in New York.
Steptoe & Johnson Welcomes Key Figures
Alan Klinger, a long-time co-managing partner at Stroock, has joined Steptoe & Johnson to lead its labor practice. Klinger and Stroock partner Dina Kolker, who also joined Steptoe, brings extensive experience representing public sector litigation clients. The move follows discussions between Stroock and Steptoe about a potential merger over a year ago, which ultimately did not materialize.
Success Stories Amidst Dissolution
Former Stroock partners are finding new homes in various prestigious law firms. Tom Firestone, who led Stroock’s white-collar and investigations practice, recently joined Squire Patton Boggs. Howard Lavin, specializing in labor and employment law, commenced his tenure at Thompson Coburn last week. The seamless transition of these lawyers highlights the resilience and adaptability of legal professionals amid industry changes.
Stroock’s Demise and Ongoing Developments
While Stroock’s dissolution is not yet official, the departure of over 40 restructuring lawyers to Paul Hastings in March 2022 triggered a cascade of exits to other firms. Before the dissolution vote, other firms, including Morgan, Lewis & Bockius, McDermott Will & Emery, Bracewell, and Norton Rose Fulbright, had already absorbed Stroock’s partners who departed.
The legal landscape in New York is undergoing a dynamic transformation, with law firms strategically positioning themselves to leverage the dissolution of Stroock & Stroock & Lavan and secure top legal talent in the process.
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