Defunct Law Firm Partners Won’t See A Dime

Equity partners at the now-defunct Dickstein Shapiro were informed by letter that they won’t be getting any capital back, which could mean a loss of $1 million or more for some high-earning partners. Dickstein Shapiro held as much as 80 percent of partners’ anticipated earnings in capital year to year. The firm had been trying to merge with another law firm, but when those efforts failed its only choice was to dissolve, partners were told in a Feb. 11 letter. “One consequence of the firm’s dissolution will be the almost certain loss of all firm capital for current and former partners alike,” the letter said.