N.Y. prosecutors probe Dewey & LeBoeuf, firm cuts ties with executive

The floundering firm also ended possible acquisition talks with Greenberg Traurig

Things continue to look bad for New York law firm Dewey & LeBoeuf. Over the weekend, reports surfaced that New York prosecutors are investigating the beleaguered firm over allegations of wrongdoing by Steven Davis, formerly firm chairman and, until yesterday, part of its recently appointed five-person management team.

Reuters reported on Friday that a source said a preliminary investigation was instigated by a group of Dewey partners who asked District Attorney Cyrus Vance to examine “financial irregularities” at the law firm. Another source said prosecutors are looking into whether the firm made misleading statements about payments owed to partners.

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