Two years ago, the mega law firm Dewey and LeBeouf shocked the legal world when it announced, out of the blue, it would be filing for bankruptcy following an exodus of employees as the money had run out. However, as usually happens in cases like these, it was not just gross incompetence that was at fault: one must usually add major act criminality to explain such a rapid fall from grace. Such was the case in the Dewey bankruptcy too.
Dewey & Leboeuf, the ailing law firm that has been on the verge of closure, said it has filed for chapter 11 bankruptcy protection in a U.S. court and is seeking approval to liquidate its business after it failed to find a buyer.
A 29-year-old overachiever who worked for the now-defunct law firm Dewey & LeBoeuf after college got indicted recently with the top leaders of that firm, and his inclusion in the indictment has baffled many in the legal industry.