Patton Boggs' Chevron Problem Scuttled Merger Deal
Law360, New York (December 20, 2013, 7:48 PM EST) -- The legal quicksand of Chevron Inc.’s campaign against a controversial $19 billion pollution case and accusations that Patton Boggs LLP lawyers engaged in fraud sank the firm’s proposed deal to join Texas-based Locke Lord LLP, a Locke Lord source involved in the negotiations told Law360 on Friday.
Even with a strong financial case for a tie-up and Locke Lord managers satisfied that Patton Boggs was on track to right itself financially through lawyer downsizing, a revamped compensation system and other measures through the past year, the dangers of the Chevron case were too much for many partners in the heavily energy-focused...
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