Regulation Corporations
After failed merger talks and companion exodus, Stroock plans to dissolve
Companions at Stroock & Stroock & Lavan have licensed a dissolution of the regulation agency “on the applicable time.” Picture from Shutterstock.
Up to date: Companions at Stroock & Stroock & Lavan have licensed a dissolution of the regulation agency “on the applicable time,” in line with an inner agency electronic mail obtained by Regulation.com.
Companions voted on the dissolution Oct. 24, Law.com experiences. The e-mail stated the chief committee will quickly implement the dissolution vote.
Information of Stroock’s troubles has been unfolding over the last several days.
Pillsbury Winthrop Shaw Pittman introduced Oct. 26 that it was ending merger talks with Stroock, citing “fast monetary and different dangers” that clashed with Pillsbury’s long-term targets.
Stroock additionally launched an announcement.
“Given our present choices, after cautious consideration, we additionally concluded {that a} Pillsbury-Stroock mixture was not the correct path for us,” the assertion stated.
Then got here information Oct. 27 that greater than 30 Stroock companions had been becoming a member of Hogan Lovells, a quantity that quantities to greater than half of Stroock’s partnership.
The departing attorneys embody Stroock’s “prized actual property staff” and the agency’s co-managing companion Jeff Keitelman, in line with earlier reporting by Regulation.com. Keitelman is co-chair of the true property group.
The precise variety of attorneys transferring to Hogan Lovells has not but been introduced. The inner Stroock electronic mail stated the agency thinks that the Hogan Lovells lawyer acquisition “will supply one of the best alternatives and progress potential for probably the most members of our agency.”
Stroock’s partnership loss to Hogan Lovells adopted the departure of greater than 40 chapter attorneys for Paul Hastings final 12 months. Stroock had additionally mentioned a merger with Nixon Peabody, however these talks ended in early July.
See additionally:
“27 lawyers leave Stroock as it continues to seek merger partner”
“Stroock takes step to make itself more attractive merger partner”
Up to date Oct. 31 at 2 p.m. so as to add Stroock & Stroock & Lavan’s assertion on the tip of merger talks.
