Bloomberg Law
Nov. 5, 2019, 1:09 PM UTC

Wake Up Call: LeClairRyan Owned 1% of Venture With UnitedLex, Report Says

Rick Mitchell
Rick Mitchell
Freelance Correspondent
  • Virginia firm LeClairRyan only owned 1% of its joint venture with alternative legal services company UnitedLex when it filed for bankruptcy earlier this year, a report says. The law firm had shifted hundreds of its employees to the venture, called ULX Partners, which was supposed to let participating law firms outsource non-legal operations. Citing LeClairRyan’s Oct. 31 bankruptcy filing, American Lawyer also said that 2017 and 2018 revenues that LeClairRyan reported in the filing are millions of dollars less than it what it told reporters. (American Lawyer)

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