Wednesday, June 13, 2012

Ex-Dewey Partner Bunsow Sues Former Leaders For Misrepresenting Firm's Finances

Per The Am Law Daily From the American Lawyer:  "In a bombshell lawsuit filed Tuesday in California state court, former Dewey & LeBoeuf partner Henry Bunsow is accusing multiple Dewey leaders—including longtime chairman Steven Davis— of committing fraud by lying about the true state of the now-bankrupt firm's finances. 

The 14-page lawsuit [
PDF], filed in San Francisco Superior Court, claims that Davis and other former Dewey leaders engaged in a years-long pattern of deceit aimed at portraying the firm as stronger fiscally than it actually was in order to pursue a lateral hiring spree that the complaint likens to "running a Ponzi scheme." 

. . . .

His suit appears to be the first filed by a former Dewey partner accusing firm leaders of fraud. Separately, the Manhattan district attorney's office launched a criminal investigation in late April into Davis's stewardship of the firm. A spokeswoman for the district attorney's office declined to comment on the status of the probe Wednesday. Davis has denied any wrongdoing."

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