More On

Former Dewey & LeBoeuf chairman agrees to settle mismanagement claims

Steven Davis agrees to pay $511,145 to resolve claims related to the firm’s bankruptcy

Dewey & LeBoeuf’s former chairman has agreed to pay more than $500,000 to settle claims that he mismanaged the law firm leading up to its collapse, the Wall Street Journal (WSJ) reports.

Steven Davis reached the agreement with the trustee responsible for Dewey’s liquidation and XL Specialty Insurance, which holds the firm’s management liability policy. If a federal bankruptcy court approves the deal on May 13, the insurance company will pay $19 million and be released from any additional claims covered by the policy.

Alanna Byrne

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.