New Orleans-based Adams and Reese is moving into Florida with the defections of the Sarasota and St. Petersburg offices of beleaguered Ruden McClosky. About 23 lawyers and 27 staff are expected to join the now 280-lawyer Adams and Reese effective Jan. 1, both firms announced Wednesday. Hit hard by Florida's real estate market woes, Ruden's gross revenue dropped by 9 percent in fiscal year 2008. In June, the firm laid off eight associates and imposed an 18 percent pay cut, causing many attorneys to look for new homes.
December 04, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Roughly 23 lawyers and 27 staff are expected to join the now 280-lawyer Adams and Reese effective Jan. 1, both firms announced Wednesday.
The surprising news comes as Ruden McClosky celebrates its 50th anniversary and caps a difficult financial year. Hit hard by the collapse of Florida’s real estate market, Ruden’s gross revenue dropped by 9 percent to $85.3 million in fiscal year 2008 after a record year in 2007.
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