Wall Street calls it value investing — buying something that’s underpriced relative to its long-term value. The legal community could label it the Bingham McCutchen strategy. Most recently, the Boston-based firm has focused its acquisitive tendencies on Washington. Little more than three years after snapping up one wounded Washington midlister, Bingham is closing the deal on another troubled office.
In early 2006, it was midsized Swidler Berlin, then hemorrhaging lawyers, that Bingham chairman Jay Zimmerman pulled into the fold. Now it’s McKee Nelson, which has seen profits stall, that has agreed to become a part of Bingham.
