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There is being wise after the fact, and then there is doggedly resisting wisdom’s advances in the face of recurring events. What else to make of the storm battering Dewey & LeBoeuf, a firm that has managed to get itself into considerable difficulties despite being a top 25 US practice with revenues north of $900m (£570m)? Because the unhappy combination of aggressive expansion, high debt and outsized pay for ‘star’ partners that currently ails Dewey has repeatedly been shown to be a risky way to do legal business.

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