Why a $2 Billion Law Firm Suddenly Collapsed
What Weil Gotshal's collapse says about the frailty of big law.
What Weil Gotshal's collapse says about the frailty of big law.
At the end of October, seemingly overnight, a major law firm called Weil Gotshal announced it was winding down after a number of partners departed and talks of a merger with another firm failed. So how did a $2 billion big law firm collapse in the span of a few weeks? In 2015, Yale Law professor John Morley published a paper called "Why Law Firms Collapse," that now looks very prescient, with his idea of a “partner run," or the law firm version of a bank run. What is especially interesting about
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European stocks slipped as a four-day rally to record highs ran out of steam after a busy week.
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Jensen Huang's resignation added to Nvidia's market woes, with the stock already in a downward slide since early October.
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Emerging-market stocks are headed for their first weekly gain since late September as investors return to the technology sector on bets that the upheaval at Nvidia Corp. will not upend the wider artificial intelligence industry.
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That shift comes as Nvidia grapples with the fallout from Huang's resignation, following revelations about his multiple affairs.
Japanese government bonds slumped on Friday, tracking Treasuries which saw a second straight session of losses as traders increased wagers on aggressive Federal Reserve interest-rate hikes.
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The silver market is set for a sixth straight annual supply deficit in 2026, even as solar manufacturers cut their use of the metal and investor selling eases pressure on the physical market.
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Charles Elson, founding director of the University of Delaware’s Weinberg Center for Corporate Governance, says Nvidia’s board should have had a clearer succession plan and stronger oversight in place. He speaks with Romaine Bostick and Jess Menton on “The Close.” (Source: Bloomberg)
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Nell Minow, Chair at ValueEdge Advisors, says she was surprised that Nvidia lacked an independent board chair and a formal succession plan. She discusses the allegations regarding Jensen Huang in an interview with Romaine Bostick and Jess Menton on “The Close.” (Source: Bloomberg)
Braskem SA posted a larger-than—expected loss as petrochemical spreads narrowed amid a normalization of global supplies, outweighing stronger sales in Brazil.
Windward Bio Group AG, raised about $225 million in a US initial public offering that priced at the midpoint of its marketed range, along with a private placement.
Without Huang, Cramer said Thursday, "There won't be a better Nvidia, just a different one."
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Stocks in Asia looked set for a cautious open as investors weighed the fallout from Nvidia Corp.’s leadership upheaval on the broader artificial-intelligence trade, a rally in oil and a surge in Treasury yields.
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Nvidia's flat management structure could pose challenges for Huang's successor, according to experts.
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Lauren Cassidy, Founder & Chief Investment Officer, at Founders 100 ETF says the Nvidia board should leave the door for Nvidia CEO Jensen Huang to return dependent on the results of the investigation because he has been an 'incredible executive.' Huang was ousted from his post after reports of three affairs, including one with a woman suspected of spying for China. Longtime Chief Financial Officer Colette Kress is taking the job of interim CEO, Nvidia said on Thursday, and Huang will no longe...
The Port Authority of New York and New Jersey is proposing a $10.3 billion budget for 2027 to help finance upgrades to the region’s airports, rail and bus terminals, and bridges.
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Nvidia stock accounts for a fairly large share of many mutual funds and ETFs. But losses in the stock don't necessarily mean big losses for the overall fund.
President Luiz Inácio Lula da Silva’s government is preparing additional budget measures to improve fiscal results next year, stepping up efforts to shore up public finances amid investor concerns about rising public debt, according to a person familiar with the discussions.
It’s still unclear what it means.
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“I‘’m considering a pre-law track … I’m just a bit hesitant because of how expensive law school is.”
The woman with whom Jensen Huang reportedly had a relationship also owned stakes in companies that provided computing power to Huawei, a key Nvidia competitor.
Nvidia stock fell 5% on Thursday following the departure of CEO Jensen Huang. Some see it as a signal to sell, others an opportunity to buy.
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
Hedge funds are reloading their bets that equities most exposed to interest-rate movements will fall after being forced to back down during the recent rally, Bank of America Corp.’s trading desk said.
The retention of Wachtell, Lipton for the Nvidia probe comes on the heels of the law firm's investigation for the NBA into the Los Angeles Clippers.
The president's son will no longer serve as an advisor at Kalshi.
Private credit executives are telling investors that the environment has never looked better for lending. The problem is they haven’t been able to take full advantage of it.
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Nordstrom Co-CEO Pete Nordstrom, says that there is "a lot of headroom" in the firm's Rack concept and that he and his brother, Co-CEO Erik Nordstrom, wanted more influence over some of the company's decisions in explaining why they took Nordstrom private in 2025. He speaks with Bloomberg's Romaine Bostick. (Source: Bloomberg)
Defined-contribution plans are getting a bump. IRA savers are not.
Fed Chair Kevin Warsh announced the move at his October news conference, though he did not set a date.
While shares of Nvidia look cheap on paper and on the charts, Wall Street analysts see more volatility ahead.
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“It would be a less drastic step than selling the home now and splitting the proceeds.”
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An accord brokered by President Donald Trump to sell Russian diesel to the US appears to have failed to clear a key hurdle: finding a willing customer.
The yen quickly rose to touch its strongest level of the day after fading to the closely watched 160-per-dollar mark, a threshold that’s raised the specter that policymakers in Japan will swoop in again to defend the currency.
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Treasury yields rose as bond markets reopened following Veterans Day.
Nvidia CEO Jensen Huang's future at the chipmaker hangs in the balance.
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Trump directed Vice President JD Vance to instead focus his attention on corruption and crime in Democratic cities and states.
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Oil climbed, erasing earlier losses, after President Donald Trump said that the US doesn’t need a deal with Iran, leaving the conflict that has roiled Middle East supplies unresolved.
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The company's board convened Wednesday evening after reports emerged of Huang engaging in an affair with an employee.
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Huang’s exit could fray tight bonds among AI businesses. Plus, Oracle’s potential AI catalyst, a $1.5 trillion Social Security stock proposal and what the oil-yield split may mean for inflation.
Technology-stock-driven rally came to a sudden halt as traders confronted a leadership crisis at Nvidia Corp. that risks reverberating across the global artificial intelligence supply chain. Nvidia dropped 7% in premarket trading, with the firm’s board discussing Chief Executive Officer Jensen Huang’s future after reports of multiple extramarital affairs, including one with a woman suspected of spying for China. Nasdaq 100 contracts fell 0.9%, threatening to trim the index’s best weekly gain...
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The Financial Stability Board is preparing to launch a consultation on how to gather data on hedge funds’ leveraged bond bets, after early efforts to foster transparency were frustrated by different definitions and restrictions on the cross-border flow of information.
Ali Y. Koç, Vice Chair, Board of Directors, Koç Holding discusses climate pressures and business competitiveness with Bloomberg's Jennifer Zabasajja at Bloomberg Green at COP31 in Antalya, Türkiye. (Source: Bloomberg)
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“He has always said he wants his daughter to inherit a chunk of his estate, and I’ve never objected to that.”
Nvidia’s board of directors reportedly met late Wednesday to determine the CEO’s fate.
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IMC Trading expects to roughly double headcount in its Hong Kong office over the next two years, the latest sign of a rush among foreign firms to expand in the city.
Cramer said he's becoming less skeptical of CoreWeave after strong earnings and reassuring comments from its CEO.
Oil declined as traders weighed resurgent production from the Middle East against the ongoing risk to shipments posed by a conflict that shows little sign of ending.
U.S. officials are accusing two top officials of a Canadian company of operating a scheme to illegally import prescription drugs, court records show.
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