Biglaw

Client Conflicts Threaten Potential New Billion+ Dollar Biglaw Firm

Not everyone is happy about the potential Troutman Locke firm.

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legal tech merger legal technology merge combineBack in April of this year, word broke that Troutman Pepper and Locke Lord were talking merger. And it has the potential to be major — the combined firm, based on 2023 numbers, would have ~$1.570 billion in revenue with about 1,600 attorneys. But then this summer, the firms said while they were still enthusiastic about the combination, it might take a little longer than expected, planning for the merger to come to completion by the end of 2024.

Now, Bloomberg Law is reporting that behind the scenes the familiar clash over client conflicts is causing concerns for some.

Some Locke Lord affordable housing and energy lawyers may be unable to represent longtime clients after a merger with Troutman Pepper Hamilton Sanders, according to three people familiar with the matter.

At least a trio of lawyers have left Locke Lord, citing such potential challenges post-merger, the people said. The firms in a statement declined to comment on client conflicts and said merger talks are ongoing.

Though the powers that be at Locke Lord seem confident that the rising tide of the mega-merged firm will raise all ships.

Locke Lord told lawyers concerned about losing clients due to the merger that work would be made up through new business from Troutman, according to two people familiar with the matter. Some lawyers found that explanation unsatisfactory, the two people said. They spoke on condition of anonymity to protect relationships at the firm.

Client conflicts checks are a necessary step in the pre-merger process. But in a joint statement, Troutman and Locke are keeping mum about what’s going on behind closed doors. “Our first priority is delivering exceptional legal services to our clients, and until the point at which the partnerships of each firm hold a vote, there will be no further comments,” the firms said.

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Kathryn Rubino HeadshotKathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @[email protected].

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