Former partners from defunct law firm Dewey & LeBoeuf LLP have agreed to give back at least $50 million in past earnings in exchange for immunity from lawsuits relating to the New York firm's demise, the Wall Street Journal reported today. If approved, the deal would mark an unusually early resolution of such "clawback" claims, which typically take years to resolve following a law firm's failure. The firm sought chapter 11 protection on May 28 following a difficult six months of partner exits amid disagreements over compensation and the firm's inability to extend credit agreements with lenders.
