Slater Gordon Woes Bad News For Public Law Firm Movement

By Andrew Strickler (August 7, 2015, 7:58 PM EDT) -- The plunging stock price for Australia's Slater & Gordon Ltd. — the world's first publicly traded law firm — and the government probes into a U.K. technology business that triggered the drop will give ammunition to opponents of outside ownership of U.S. firms, experts said.

While concerns about stock volatility and government regulators have been secondary issues in the long debate about nonlawyer interests in law firms, Slater & Gordon's troubles shine a harsh light on potential risks of firms going public.

"When you see market forces and situations where people can short a law firm's stock and there are all...

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