Reuters: Bankruptcy News: Embattled law firm Dewey's committee dumps ex-chairman

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Embattled law firm Dewey's committee dumps ex-chairman Apr 29th 2012, 17:51 April 29 | Sun Apr 29, 2012 1:51pm EDT April 29 (Reuters) - New York law firm Dewey & LeBoeuf has removed its ex-chairman, Steven Davis, from the executive committee amid a probe by the Manhattan district attorney into whether Davis made misleading statements about compensation packages for some high-ranking partners. According to an internal firm memo obtained by Reuters on Sunday, the executive committee voted to terminate Davis from its ranks, but said the move should not be read as a judgment on the merits of the district attorney's probe. The firm has also ended discussions with rival law firm Greenberg Traurig over a possible merger or acquisition, according to the memo, but is continuing talks with other law firms. Dewey, saddled by high debt and a flood of partner departures, has been eyeing a possible prearranged bankruptcy filing as a vehicle to be acquired by another firm. (Reporting by Nate Raymond; Writing by Nick Brown)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions