The core of the article is many of the attorneys (fee earners) are leaving the listed firms in droves, it mentions 19 from SF, 12 from FAKC and 9 from Cullens.
All of the professionals from Callinans left and 50% of the professionals from Cullens have left (they had 18 IP professionals at the time of purchase).
The restraints are ending and clients tend to follow the attorneys.
It has been noted by others that there is a fair degree of disgruntlement among employees – particularly those who envisioned being on a path to equity ownership themselves, and have seen that future evaporate.
Article in AFR, page-3
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