Jenkens & Gilchrist Bites The Dust

By Erin Coe

Law360, New York (March 29, 2007, 12:00 AM ET) -- After a costly tax shelter scandal wreaked havoc on Jenkens & Gilchrist’s reputation and finances, the once thriving national law firm has officially called it quits.

Jenkens plans to shutter its main office in Dallas at the end of the month and pay a $75 million penalty to the Internal Revenue Service as part of a tax shelter settlement, according to the IRS and the U.S. Attorney’s Office for the Southern District of New York on Thursday.

The firm has also entered into a non-prosecution deal...
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