News From Law.com
While the demise of Am Law 200 firm Stroock & Stroock & Lavan dominated the headlines this year, 2023 saw the end of a variety of midsize firms and boutiques as well. Two firms with roughly 100 lawyers—Schnader Harrison Segal & Lewis and Daughtery Lordan—vanished as their lawyers scattered to rival firms, albeit for very different reasons. And numerous boutiques fell victim to the pressures of being small in a competitive marketplace or the lack of enthusiasm for taking over firm leadership. That said, each firm failed due to a unique set of circumstances that may contain lessons for similarly positioned firms in the future. As 2024 approaches, we reviewed our reporting on law firm failures this year to unpack what happened to the firms that called it quits.
Legal Services - Large Law
December 28, 2023, 12:05 PM