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WHAT WE’RE WATCHING

CLOSING SHOP – LeClairRyan is officially kaput. Christine Simmons reports the law firm has confirmed that it’s winding down. The Virginia-based Am Law 200 firm’s gross revenue fell to $122 million in 2018, sliding from $142 million the year before. Many of LeClairRyan’s staff members became employees of ULX Partners when the law firm teamed up with UnitedLex to create a joint venture with the alternative legal services provider in 2018. As a part of that deal, LeClairRyan CEO C. Erik Gustafson said at the time that it remained an independent law firm but also had a minority stake in ULX Partners.

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