At Paul Weiss, Panic, Poachers and a Fight for the Bottom Line
The New York Times
Fears that competitors could take its top rainmaking talent added to the law firm’s worries about a Trump executive order that targeted it.
President Trump’s executive order attacking Paul Weiss and severely restricting that law firm’s ability to represent its clients was widely seen by lawyers as a dangerous affront to the nation’s legal system.
To rivals of Paul Weiss, it was an opportunity.
Within days of Mr. Trump’s March 14 order, some of the biggest competitors were calling top lawyers at the beleaguered law firm — one of the nation’s most prestigious — asking if they wanted to jump ship along with their lucrative clients.
Several firms, including Sullivan & Cromwell and Kirkland & Ellis, were looking to exploit the moment, according to five lawyers with direct knowledge of the poaching. All the lawyers interviewed for this article spoke on the condition of anonymity in order to talk about discussions that were supposed to remain private.
The competitors took a soft approach with Paul Weiss’s rainmakers, saying that they sympathized with the lawyers’ plight but that if they wanted out of the turmoil they could name their price. Lawyers at another major law firm, Wachtell, Lipton, Rosen & Katz, also mulled whether to try to lure partners away from Paul Weiss, four of the people said.
The outreach from other firms heightened the panic that had been roiling Paul Weiss after Mr. Trump issued the executive order, which restricted the firm’s lawyers from dealing with the government, including entering federal buildings. The order also said companies doing business with Paul Weiss, which has deep ties to the Democratic Party and its causes, could lose their government contracts.
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