Midwest Firm Falls Victim To Cutthroat Lateral Market

By Aebra Coe (April 26, 2016, 10:05 PM EDT) -- Indianapolis-based Krieg DeVault LLP has shed around a third of the roughly 120 attorneys it had at the start of 2015 largely as a result of aggressive lateral recruitment by competitors, serving as a warning to midsize firms that complacency once talent starts leaving comes at a high cost, insiders and consultants said.

The spree of departures began in April 2015, soon after a management shake-up, with the exodus of 15 intellectual property attorneys to Taft Stettinius & Hollister LLP. And the exits continued, bringing what was a 121-lawyer firm in January 2015 down to an 82-lawyer firm today.

An attorney who...

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