The bargain-basement sale of Bear Stearns to JPMorgan Chase for $236 million, or $2 a share, brought out some of the biggest names in the legal profession. But whatever fees the firms collect and whether more will be generated by potential shareholder litigation, the corporate bar is mourning the passing of a major client that only recently generated rich billings. Investment banks have long been the bulwarks of leading New York firms' client lists, and the main reason for their high profitability levels.
Bear Stearns' Demise Leaves Law Firms Jockeying for Position
New York Law Journal
March 18, 2008