In a Monday memo, the Dewey & LeBoeuf management team told those partners that have stuck with the embattled firm that fiduciary duties do not restrict them from considering or pursuing career alternatives outside those the firm leaders are discussing with possible transaction partners. Meanwhile, former Dewey chairman Steven Davis has retained counsel in the face of internal and external investigations into his actions as the firm's leader.
April 30, 2012 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Update, 5/1/12, 12:59 a.m. EDT: This story has been updated to include new information related to a message sent by Dewey & LeBoeuf management to the firm’s partners Monday.
Amid an ongoing flood of partner departures and frantic efforts to save the firm in some form, Dewey & LeBoeuf management issued a memo late Monday informing the remaining partners that they are under no obligation to stick with the firm in its current precarious state.
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