DealBook: Dewey Deal Lawyer Decamps to White & Case

NEW YORK (Reuters) - Embattled law firm

NEW YORK (Reuters) - Embattled law firm Dewey & LeBoeuf said on Sunday it removed its former chairman from various leadership positions amid a probe by the Manhattan district attorney and said that talks with rival firm Greenberg Traurig about a potential transaction ended with no deal. According to an internal firm memo obtained by Reuters, Dewey's executive committee voted to oust Steven Davis from its ranks and remove him from a five-member management team put in place during a leadership shakeup last month. The firm's management also disclosed that talks with Greenberg Traurig had ended.

For the team of veteran investment bankers and Bay Street lawyers involved, the takeover of Canada’s main stock exchange company TMX Group Ltd. by a consortium of banks and pension funds under the Maple Group banner was unique in magnitude and detail. “There were 100 things that we needed to do right and if any of them went wrong, that one could have caused the deal to crater,” says veteran securities lawyer Vince Mercier, a partner at law firm Davies Ward Phillips & Vineberg LLP who worked with the banks in the Maple consortium.

Dewey & LeBoeuf is losing Morton A. Pierce, a prominent mergers-and-acquisitions lawyer, to a New York rival, as the firm struggles to stay afloat.

Republicans got their smoking gun with a new report about how the IRS hounded Tea Party-themed groups. But as the smoke starts to clear, it looks like GOP congressmen missed their intended target—President Obama.

This article is by Mark , the chief executive of Axiom, a 900-person new-model legal services firm that serves nearly half of America?s 100 biggest corporations across 10 offices and four delivery centers globally. Dewey & LeBoeuf, a white-shoe law firm with famous bloodlines and nearly 1,000 lawyers, is a card-carrying member of the industry ...