Law Practice
Jul. 30, 2002
Clifford Countdown
The Tower Snow-led exodus of partners from San Francisco's Brobeck, Phleger & Harrison to London-based Clifford Chance Rogers & Wells was nine months in the making, with most of the action taking place in May and June. Here's how Clifford Chance's entry into the California legal market went down.
Oct. 17: Snow announces he will not seek re-election as Brobeck Phleger's chairman amid rising partnership discontent over his refusal to lay off associates idled by the technology slump.
Nov. 14: Brobeck Phleger partnership elects Richard Odom chairman and Richard Parker managing partner. Snow and his managing partner, James Burns, step down immediately.
January: Snow calls James Benedict, a longtime acquaintance and Clifford Chance's regional managing partner for the Americas, to explore a merger.
Late April: Talks between Clifford Chance and Snow's group turn serious after a long exploratory phase.
May 13: British legal press reports a possible deal between Clifford Chance and Brobeck Phleger securities litigation team led by Snow.
May 16: Clifford Chance issues a press release that the merger deal is dead. Both sides begin to negotiate in secret.
May 17: Brobeck Phleger partners expel Snow, who receives an expulsion notice as he departs a plane at San Francisco's International Airport.
May 24: Clifford Chance closes deal with the Snow group. The firm begins extending offer letters to Snow and 20 Brobeck Phleger partners. Seventeen partners accept. Brobeck Phleger imposes a 30-day notice period on departing partners.
June 28: The 30-day notice period ends. The departing partners are free to leave Brobeck Phleger and solicit associates and clients.
June 29: The departed partners begin tendering offers to Brobeck Phleger associates and staff. Solicitations begin as early as 12:01 a.m.
June 30: Michael Torpey, former head of Brobeck Phleger's securities litigation practice, holds a reception at his house for new Clifford Chance attorneys and staff.
July 1: Clifford Chance opens four offices in California: San Francisco, Palo Alto, Los Angeles and San Diego.
John Ryan
For reprint rights or to order a copy of your photo:
Email
Jeremy_Ellis@dailyjournal.com
for prices.
Direct dial: 213-229-5424
Send a letter to the editor:
Email: letters@dailyjournal.com