NY Attys Push To Allow Outside Investment In Law Firms

Law360, New York (August 29, 2011, 6:27 PM EDT) -- New York attorneys hoping to overturn an ethics rule that bars law firms from selling stakes in themselves to nonlawyers asked a federal judge Friday to keep their case alive, saying cheap capital would make legal services more affordable.

The suit, brought in May by 60-person Jacoby & Meyers Law Offices LLP, targets New York state's appeals court judges in an effort to force a change in a state professional conduct rule that says nonlawyers can't own any part of a law firm.

That rule, which...
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Case Information

Case Title

Jacoby & Meyers, LLP et al v. Schneiderman et al


Case Number

1:11-cv-03387

Court

New York Southern

Nature of Suit

Constitutional - State Statute

Judge

Lewis A. Kaplan

Date Filed

May 18, 2011

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