New York-founded law firm Stroock & Stroock & Lavan’s remaining partners voted on Oct. 24 to authorize its executive committee to “dissolve the firm at the appropriate time,” co-managing partners Alan Klinger and Jeffrey Keitelman said in an internal email on Monday.
Stroock, founded in 1876, has lost large teams of attorneys to rival law firms in the last year. In the most recent defection, more than 30 partners from Stroock are poised to join Hogan Lovells, including Keitelman and members of the firm’s real estate team. The mass departures follow failed merger discussions between Stroock and several other firms, including Pillsbury and Nixon Peabody. Read more about the firm’s dissolution.
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The private securities industry regulator FINRA is getting help from the U.S. Justice Department as it tries to ward off what it acknowledges to be an “existential threat” to its authority to police U.S. brokers and dealers. Alison Frankel has the story on new briefs from FINRA and the DOJ in an increasingly consequential challenge to the constitutionality of the securities industry’s centuries-old self-policing regime.
Check out other recent pieces from all our columnists: Alison Frankel, Jenna Greene and Hassan Kanu
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