The announcement that Sonnenschein Nath & Rosenthal will hire 100 lawyers from Thacher Proffitt & Wood signals the end of the Wall Street firm, which saw its fortunes fall as the securitization market collapsed. A Thacher partner confirmed on Monday that the firm expects to announce dissolution plans by Dec. 31. Yet it could have been much worse, lawyers involved in the transaction say.
How Thacher Proffitt Came to an End
The American Lawyer
December 23, 2008