R.I.P. Heller Ehrman (1890-2008): Firm to Dissolve Friday
In a follow up to my previous post, speculating that Heller Ehrman might be on the way out after a mass exodus and severe mismanagement (including a telling comment by what I can only assume is a Heller Ehrman associate), the company is indeed calling it quits.
Heller Ehrman Chairman Matt Larrabee broke the news to the 500-plus employees at the firm's San Francisco headquarters Thursday, according to partner Barry Levin, and said an orderly dissolution would proceed over several weeks, allowing lawyers with cases in progress to make arrangements to carry on their clients' work.
The firm has 69 in Seattle.
Reasons cited fir the dissolution include a bad 2007, combined with a structure that left them vulnerable in such a situation. The bad financial year, combined with a mass exodus of brain power, led to the remaining equity partners being unable to salvage the firm.
Heller Drone, feel free to comment again if you know more, I would love to have a greater insight as to the inner workings and what led to this sad result.
You can read the full story here.