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Dewey retirees agree to clawback settlement

The ex-partners had previously sued the firm’s estate for more than $80 million in pension benefits and unpaid compensation

A group of Dewey & LeBoeuf retired partners that had been fighting for millions of dollars in compensation from the bankrupt firm changed course Friday and agreed to return a portion of their compensation as part of a clawback settlement.

As part of the proposed deal, up to 125 retirees or their beneficiaries will return either $5,000 or one-quarter of the retirement payments and compensation that Dewey paid them in 2011 and 2012—whichever is smaller. They also will pay back 60 percent of any tax advances that Dewey made on their behalf during the same time period. In return, they will be immune from any future lawsuits connected with the firm’s demise.

Alanna Byrne

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