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Practice Notes
Bingham McCutchen finalized its acquisition of entertainment attorney Marshall Grossman's 40-lawyer L.A. litigation shop, Alschuler Grossman. Grossman, 68, said he agreed to stick around for at least five years in exchange for a compensation package worth at least as much as he'd made at his old firm, which colleagues there said was about $2.5 million. Neither Grossman nor Bingham Chairman Jay Zimmerman would comment on whether other Alschuler partners would be guaranteed salaries.
Grossman said his litigation shop grosses about $40 million; he brings a book of business he estimated at about $15 million. Grossman has been angling to join up with a national firm for more than a year, an ambition that wasn't shared by former name partners Stanton 'Larry' Stein and Robert Kahan. On Jan. 1, they split off, with about 35 lawyers, to form Dreier Stein & Kahan.
Talks between Alschuler Grossman and Bingham got going in November when Grossman and Zimmerman met for lunch at Los Angeles' City Club, along with Alschuler's managing partner, Bruce Friedman, and Bingham's Richard Welch, the managing partner in L.A. There were some pre-existing ties, Welch recalled. Grossman had done litigation work for Riordan & McKinzie, the corporate boutique acquired by Bingham in 2003. Friedman had also helped Riordan with insurance-coverage matters. And Grossman had represented Richard Riordan, the founding partner of Riordan & McKinzie and the former mayor of L.A., who is quoted on the Alschuler home page calling Grossman 'the toughest litigator in Los Angeles.'
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