I feel an immense sense of, really, that I owe all these people an apology. At the end of the day, it was my responsibility. I have to accept that and I have to live with it.
— Steven Davis, the former chairman of Dewey & LeBoeuf, discussing the firm’s downfall in a short documentary produced by Bloomberg Law. Created via the 2007 merger of Dewey Ballantine and LeBoeuf, Lamb, Greene & MacRae, the mega firm declared bankruptcy just five years later. “I think in its brief existence, the firm did some good things,” he said. “But it’s a reality that all that has disappeared in the chaos and turmoil that resulted from the bankruptcy.” Speaking for the first time on camera about the Biglaw firm’s fall from grace, Davis, who was brought up on criminal charges after the firm toppled, called the prosecution “absolutely inappropriate and unnecessary.” He now lives in London where he does litigation finance consulting and said the reputational damage he’s endured is “frankly irreparable.” Check out the documentary below.
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 or connect with her on LinkedIn.
