Howrey votes to dissolve firm
bizjournals.com
By Eli Segall
San Jose Business Journal
Friday, March 11, 2011
Howrey LLP, stung by partner defections and declining revenue, will dissolve on March 15.
Howrey, a corporate litigation firm, has an office in East Palo Alto at the University Circle complex off Highway 101.
That office had 19 attorneys as of Thursday, down from 34 lawyers as recently as Feb. 18, according to the firm's website. More than 140 partners left Howrey since April 2010, according to American Lawyer magazine.
The Washington, D.C.-based firm was founded in 1956 and reportedly had about 680 lawyers world-wide as of early February. The firm said in a statement Wednesday that its executive committee would dissolve the firm's partnership and "commence an orderly wind down of its affairs."
The firm said a "group" of attorneys and staff members, primarily from its Houston office, will join the law firm Winston & Strawn LLP, but many others could not "because of significant client conflicts."
Howrey did not elaborate on either point. However, it was reportedly pursuing a merger with Winston & Strawn before it voted to dissolve.
Bob Ruyak, chairman and CEO of Howrey, said in the statement that the firm finds "some solace in the fact that our people have been so well received by their new firms."
"This is a very difficult time for our firm, for our attorneys and for our staff," he said. |
