The clock is ticking on Dewey & LeBoeuf’s attempts to reach a clawback settlement with former partners. And with a week to go before the Aug. 7 deadline, response to the firm’s latest proposed deal is reportedly mixed.
While Dewey’s new plan addresses some partners’ concerns by raising the maximum contributions for higher-paid partners and levying further fees on firm management, some former lawyers are still unhappy with the proposed terms. The revised settlement would offer lawyers immunity from future lawsuits in exchange for payments of between $5,000 and $3.5 million. Executive committee members would pay an additional 20 percent, prorated based on time worked between October 2007 and December 2011.