With the dissolution of 147-year-old Stroock & Stroock & Lavan LLP finalized in October, its Los Angeles operation has found a few landing points.
Notably, the multinational law firm Steptoe LLP picked up Stroock’s lease in Century City, giving it a secondary location here outside of its downtown office. This comes months after an 18-member financial services team jumped ship from Stroock to Steptoe. The lease lasts through September,
“It was a very practical decision,” said Gwen Renigar, firmwide chair of Steptoe, in an email. “Keeping the office allowed the incoming team to hit the ground running without the disruption of a move. Our current Los Angeles space also was not big enough to allow us to combine all colleagues in one space.”
In total, 31 attorneys have jumped from Stroock to Steptoe this year.
Amid financial troubles, Stroock has hemorrhaged practice groups and partners in recent months, with leadership “trying to find an exit for about a year,” according to a person familiar with the firm.
Ultimately, Hogan Lovells – which was seeking to bolster its litigation and real estate roster – was deemed to be the best fit, with 32 of the remaining attorneys at Stroock lateraling to the American-British firm once Stroock’s dissolution was completed. L.A.-based real estate partner Loryn Dunn Arkow, who handles transactions, joint ventures, capital raises and other matters, joined Hogan Lovells’ Century City office. Additionally, downtown-based Sheppard, Mullin, Richter & Hampton LLP announced last week that two real estate, energy, land use and environmental partners had lateraled over from Stroock. Peter David Ballance will work out of Sheppard Mullin’s Century City office, while Lorie Soares Lazarus will split time between its downtown headquarters and its Silicon Valley office.