A former Dewey & LeBoeuf partner who advised the now-defunct firm on a $150 million bond offering five years ago testified Thursday that he was never in the loop about its finances and relied completely on assurances by the finance department that the 1,400-lawyer firm was on sound financial footing.
Richard Shutran, a senior corporate and finance partner at predecessor firm Dewey Ballantine who became one of the highest-compensated lawyers at successor Dewey & LeBoeuf, where he co-chaired its corporate department, told jurors at a criminal trial of three former firm leaders that he served as in-house counsel on the 2010 private placement.
