Professor Hillman Comments for Media on Criminal Allegations at Dewey & LeBoeuf
Professor Robert Hillman commented for Law 360 on the impact of criminal allegations against Dewey & LeBoeuf executives who are accused of committing accounting fraud in an effort to hide the dire financial condition of the firm, which is now in bankruptcy.
Professor Hillman said the Dewey criminal prosecutions "will serve as a lesson to everyone at every level in law firm management." Also significant is the impact of the managers' actions upon other Dewey partners. Hillman said that during the last 10 or so years, "law firm managers have been increasingly anxious, saying 'What will happen to me if my firm goes under?' even if the actual manifestation of that risk hasn't developed. They will watch this case carefully, but it would have more of an impact if managers were being called to account for what they did to their own partners."
Robert Hillman is a Professor of Law and holds the Fair Business Practices and Investor Advocacy Chair at UC Davis School of Law. He is a scholar in the fields of international transactions, securities regulation, and corporate and partnership law.