New York City, NewYork-based Stroock & Stroock & Lavan, a full-service corporate, bankruptcy, and real estate multi-partner law firm, has announced that it was unable to reach a deal with another law firm and will be winding down operations in accordance with a partnership vote.
The closure will impact 138 employees and will be completed on January 30, 2024.
The firm remained hopeful as partners left for other firms. According to a statement by Alan Klinger, a co-managing partner, “Now having secured the votes needed to end our pension obligation, we are optimistic about achieving a desired merger.”
The merger never happened, and the 147-year-old law firm faces inevitable dissolution.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?