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Boies Schiller Joins Firms Receiving Millions in Covid-19 Loans

July 7, 2020, 1:01 PM

Big Law firms including embattled Boies Schiller Flexner are among the beneficiaries of federal government loans designed to help U.S. businesses save jobs in an economy battered by the coronavirus pandemic.

Dollars Paid: Boies Schiller, the firm founded by storied litigator David Boies, received between $5 million and $10 million in loans from the Small Business Administration’s Paycheck Protection Program, according to government records. The firm, which has seen numerous attorneys head for the door in recent months, indicated it used the loan to retain 490 jobs.

Jobs Saved: Other major firms turning to the government for a loan in recent months included Knobbe Martens, Sullivan & Worchester, Gibbons P.C., and Cole Schotz. Those firms all brought in at least $100 million in revenue in 2019, according to industry rankings from The American Lawyer. Boies Schiller brought in more than $400 million last year.

Roy Strom has the story.

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DAILY BRIEF


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In-House

WR Grace, Bank of Hawaii Looking for New Top Lawyers in 2021
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Business of Law

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Follow Bloomberg Law’s global coverage of the coronavirus pandemic on our Coronavirus Outbreak channel, and track the latest changes in the federal court operations with our interactive map.

WAKE-UP CALL


As Covid Chapter 11 Filings Soar, Prepared Firms Cash In
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PRACTITIONER INSIGHTS

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INSIGHT: Contact Tracing Apps Can Trigger Workplace, Privacy Concerns
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WORKFLOWS

Greenberg Traurig has hired Michael A. Seiden as a shareholder to its Real Estate Practice in Los Angeles from Pircher, Nichols & Meeks | McGuireWoods added Mason Mote as a real estate partner in Houston and Austin (most recently from real estate investment firm Williamsburg Enterprises), and energy litigation partner Simon Hems to the London office from Ince | Hogan Lovells hired Jonathan Wasserman to the Litigation, Arbitration and Employment practice as a member of the Life Sciences and Health Care industry group in Washington from Bristol Myers Squibb | Freshfields announced that Mary Eaton has joined the New York office as a partner to co-head the Securities and Shareholder Litigation Practice with Meredith Kotler; she joins from Willkie Farr & Gallagher | Cozen O’Connor hired Mitchell Poole as a shareholder to its Real Estate practice in Santa Monica from Sidley Austin | Mayer Brown said former White House economic adviser Andrew Olmem has returned to the firm | Latham & Watkins added two private equity laterals: Cooley partner Eric Schwartzman in San Francisco, and former Obama White House lawyer Michael Bosworth to its White Collar Litigation practice in New York | DLA Piper’s Philadelphia office hired information security and privacy specialist Ronald Plesco as a partner in its Intellectual Property and Technology practice from KPMG Cyber Services.

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To contact the reporter on this story: Jerome Ashton in Washington at jashton@bloomberglaw.com

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