Consultant: More Big Law Firms Will "Implode"

Feb. 27 (Bloomberg Law) -- Bruce MacEwen, a law firm consultant and publisher at AdamSmithEsq.com, tells Bloomberg Law's Lee Pacchia that "we will see some more name brand [law] firms implode" in 2013. The defunct New York law firm Dewey & LeBeouf, which dissolved in 2012, saw its bankruptcy plan approved by a Manhattan U.S. Bankruptcy Court judge on Wednesday. It is the largest U.S. law firm ever to go out of business, with more than 1,400 lawyers on its staff at its peak. Dewey "didn't do anything wrong that a lot other firms don't do, they just did all of them to an extreme," says MacEwen.
BofA Has Worst Governance Since Pre-Crisis Citi: Mayo
42:27 - Michael Mayo, an analyst at CLSA Ltd., talks about Bank of America Corp.'s corporate governance ahead of a shareholder vote on whether the bank's board should have allowed Chief Executive Officer Brian Moynihan to add the chairman title last year. Mayo speaks with Erik Schatzker and Stephanie Ruhle on Bloomberg Television's "Market Makers." (Source: Bloomberg)
  • Small Businesses Turning to Non-Bank Lenders
  • Is Twitter's Stock Slump Making It a Takeover Target?
  • Watch Colima Volcano Spew Ash 2 Miles Into the Sky