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Let the Hirer Beware

BY Brant Weidner
June 24, 2009

A lawyer moving from firm to firm is nothing new. What is novel is the volume of lawyers on the go as the legal profession feels the sting of this recession. “Forced attrition” at law firms has reached unprecedented levels. At last count, more than 4,300 lawyers have been laid off from major law firms since January 2008 (see http://www.abovethelaw/layoffs). More than 1,300 pink slips came in one month alone. These staggering numbers do not contemplate downsizings taking place at smaller firms, or stealth reductions, taking place under the radar, at larger ones. These numbers also don't count the hundreds of lawyers being cut loose by the wholesale dissolutions of firms, notably the century-old Heller Ehrman.

Add in the many employed lawyers with healthy books of business who are looking elsewhere as their firms' finances decline, and you have an unprecedented number of wingtips pounding the pavement: a pool of potential lateral hires like none the legal profession has seen before.

With so many lawyers up for grabs, many of them eminently qualified, firms have enticing opportunities to bring aboard top talent, sometimes at bargain prices. The inclination is to act quickly and attract the best candidates before someone else does. But let the hirer beware. Lateral hiring isn't without risk, and more lateral hiring means more exposure to claims alleging malpractice and other failings.

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