Dewey Dumps Davis, Nixes Potential Deal with Greenburg Traurig
Troubled law firm Dewey & LeBoeuf has removed Steven Davis from all his leadership positions. Davis is also under a probe from the Manhattan district attorney as of now. The law firm has also said that a potential transaction deal with Greenburg Traurig has been cancelled.
Davis will now, no longer be a part of the five-member office of the chairman. Dewey will however continue to pursue talks with other firms about a transaction deal. Dewey is also close to getting a 90-day to 120-day extension on its $74 million loan debt that is due on April 30. The lenders include JPMorgan Chase & Co, Bank of America Corp, Citigroup and HSBC Holdings.