Thursday, March 6, 2008

Whoops, they did it again

Jenner & Block is deequitizing another 10+ partners. They also did this back in June or so.

This is not a surprising trend, what with predictions of a slowdown in legal work all over the board. But remember that Jenner is known more for its litigation practice than corporate. (They do have several first-rate real estate people!) I guess I am a little surprised that it would happen again so quickly. I guess this will just be an annual rite of passage in the news (and it has been in the past at some firms, just more quietly so).

If you thought law firm partnership was like tenure for a teacher or professor, guess again. Those days are going by the wayside at BigLaw, for better or for worse. And if you are at Jenner, at least you'll have those nice fancy new offices.


Deal Junkie said...

I didn't know the firms could do that. Can the (ex)partners sue?

Thanks for the link!

David Stejkowski said...

There have been some lawsuits in the past (age discrimination I believe being the cause of action), but I have a feeling this is all covered by the partnership agreement. I guess we'll see.