Winston & Strawn has settled on the eve of trial a suit by a partner who claimed the firm broke a deal to exempt him from "decompression," a policy sharply cutting partners' pay after age 65. As a result of the settlement, the parties stated the suit by Anthony F. LoFrisco, 74, "will be dismissed and he will resign from the firm on Nov. 26, 2007." The settlement ends an unusual suit that had drawn much attention to firms' handling of aging rainmakers, many of whom are challenging policies on retirement.
Winston & Strawn, Partner Settle 'Decompression' Suit
New York Law Journal
November 20, 2007