Partners May Be Able To Find Lateral Safety At Other Firms If Stroock Closes Its Doors

// Ed. note: Welcome to our daily feature, Quote of the Day.

I think there are several firms that have built relationships with people at firms that have an uncertain future. In a long-term effort, that can really pay off. Usually, the message sent to people at the firm is if anything changes and you decide to do something else, we want to talk to you. We have seen that happen at other firms.

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— Kent Zimmermann, strategic consultant at Zeughauser Group who specializes in mergers, in comments given to the American Lawyer, on how partners at Stroock & Stroock & Lavan may be able to find a new home if things take a turn for the worse. The firm’s future is already looking quite bleak, thanks to a mass lateral move of partners to Hogan Lovells following its latest failed merger efforts.

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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.

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Biglaw, Law Firm Closures, Quote of the Day, Stroock, Stroock & Stroock & Lavan