Former Dewey chief Davis settles for $500k over mismanagement claims
Steve Davis, the former chairman of Dewey & LeBoeuf, has agreed to a half-a-million-dollar settlement with the firm's trustee and insurer over claims that bad management contributed to the US firm's high-profile collapse. Davis has agreed to pay $511,145 (£335,000) to resolve all claims, while XL Specialty Insurance, which issued Dewey's management liability insurance policy, said it would pay $19m (£12.4m) in the proposed settlement.
Steve Davis, the former chairman of Dewey & LeBoeuf, has agreed to a half-a-million-dollar settlement with the firm’s trustee and insurer over claims that bad management contributed to the US firm’s high-profile collapse.
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