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Dewey Merger
Dewey Ballantine and LeBoeuf, Lamb, Greene & MacRae merge. (Illustration by Dane_Mark/iStock) -
Credit Agreements
Dewey enters into a credit agreement with four banks, led by J.P. Morgan Chase & Co. (Photo by Subman/iStock) -
Earnings Plummet
Earnings come in far below expectations. Firm executives allegedly make first irregular accounting entries by inflating annual net income by 15 percent to meet $290 million threshold set by bank lenders. (Illustration by Aarows/iStock) -
Budget Shortfall
Dewey falls $100 million short of its budget target, double the previous year's shortfall. Leaders allegedly overstate income by $23 million to meet bank covenants and enter into at least 16 secret guaranteed contracts with partners totaling $33 million annually. (Illustration by Dane_Mark/iStock) -
Refinancing Debt
Firm refinances debt with a $150 million privately placed bond with 13 insurance companies and an additional $100 million revolving credit line with bank lenders. (Illustration by Incomible/iStock) -
Firm Layoffs
Amid partner defections, Dewey announces layoffs and installs new four-member "office of the chairman," with London partner Stephen Horvath III as executive partner. (Photo by Maggie Soladay for The American Lawyer) -
Chairman Removed
Firm strips Dewey Chairman Steven Davis of any leadership role as news of Manhattan district attorney's probe leaks. The American Lawyer revises sharply downward its 2010-2011 revenue and profit estimates for the firm. (Illustration by Philippe de Kemmeter for The American Lawyer) -
Dewey Files for Bankruptcy
Merger talks with Greenberg Traurig fall apart. Dewey files for bankruptcy protection three weeks later. (Photo by Kameleon007/iStock) -
Indictments Against Top Leaders
Manhattan D.A. issues 106-count indictment of Davis, executive director Stephen DiCarmine, chief financial officer Joel Sanders and client relations manager Zachary Warren, accusing them of "concocting and overseeing a massive effort to cook the books." SEC files civil complaint against Davis, DiCarmine, and Sanders, as well as finance director Francis Canellas and controller Thomas Mullikin. (Illustration by Brian Hubble for The American Lawyer) -
SEC Case Stayed
SEC civil proceedings are stayed pending criminal trial. Judge unseals guilty pleas by Canellas and six former Dewey staffers in exchange for cooperation. (Photo by Diego Radzinschi/The National Law Journal) -
Warren Case Severed
Warren's case is severed from three other executives, with his trial set for 2016. (Photo by Rick Kopstein for The New York Law Journal) -
Trial Begins
Trial of Davis, DiCarmine and Sanders begins.
