Morton A. Pierce, co-chairman of Dewey's mergers and acquisitions group and a member of the firm's executive committee, is headed to rival firm White & Case, according to two people with knowledge of his decision.
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.
Editor’s Note: The following post comes to us from Bill Michael, partner, and co-chair of Mayer Brown LLP’s White Collar Defense & Compliance practice group, and Bill Kucera, partner in Mayer Brown’s Mergers & Acquisitions practice group.
Cross-border mergers and acquisitions can provide tremendous business opportunities for compani
NEW YORK (Reuters) - Seventeen more partners at Dewey & LeBoeuf announced their departure on Monday, as the failing law firm considered filing for bankruptcy. Rival law firm Proskauer Rose said it was bringing in four partners, including Ralph Ferrara, a vice chairman at Dewey and former general counsel of the U.S. Securities and Exchange Commission. Duane Morris, another law firm, said it was hiring 16 lawyers from Dewey, including six of its partners. ...
Dewey's chairman, Steven H. Davis, has been stripped of his title and will relocate to London. He will join four other lawyers in an "office of the chairman" with five co-equal members representing the heads of the firm's most profitable practice areas.