Marc Dreier wrote a story last year touting his model of a law firm in which only one person had an equity stake. But in the wake of his arrest for trying to swindle some $150 million from three investment groups, experts say the Dreier model is likely dead. The reason is simple: When one equity partner falls, the whole firm goes down with him. Dreier's sole ownership raises another question: Are the firm's other lawyers shielded from suits that angry clients are apt to bring if the firm owes them money?
Arrest Spells the Death of the Dreier Model, Say Experts
The American Lawyer
December 10, 2008