Howrey Can't Blame Demise On Alt. Fees: Experts

Law360, New York (March 10, 2011, 7:52 PM EST) -- The CEO of Howrey LLP is blaming its downfall partly on deferred profits from contingency-fee work, but it was a host of bigger problems like lack of loyalty and too few practice areas that ultimately sank the firm, experts say.

On Wednesday, Howrey's partners voted to dissolve the firm after several of its leaders and rainmakers had fled in recent weeks amid rumors of its imminent demise.

Howrey Chairman and CEO Robert Ruyak told Law360 on Thursday that impatient partners left the firm because contingency-fee deals,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.