Pastore Osterberg LLP, the law firm forged from the ashes of
insolvent New York-based Dreier LLP, will now merge with Fox Rothschild
LLP in a move that has been anticipated since Paster Osterberg's
founders, Joseph Pastore and Eric Osterberg, bolted from Dreier in
December.
The deal, which takes effect on April 1, will expand Fox
Rothschild into Paster Osterberg's Stamford, Conn., stronghold and add
a 15th office to the former firm's business.
"We were courted by a
variety of firms, but only Fox Rothschild offered us the autonomy we
desired combined with the strength of a national firm," said Joe
Pastore in a March 26 statement announcing the merger.
Pastore
Osterberg was founded just one day before Dreier LLP filed for
bankruptcy on Dec. 16 after its founder, Marc S. Dreier, was arrested
for orchestrating a $700 million fraud against several hedge funds. At
the time, Pastore and Osterberg had reportedly been in talks with
several other law firms about a possible merger. Attorneys from Dreier
LLP's West Coast operation, called Dreier Stein Kahan Browne Woods
George LLP, had also been in talks with larger firms to discuss a
possible merger, although there's been no word about whether any
progress has been made on that front. - Carolyn Okomo
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