Stakes raised at DLA Piper

As we report today, the storm clouds over private investments made by partners at DLA Piper – including Sir Nigel Knowles – show no sign of blowing away soon.

The firm is not commenting on issues raised during yesterday’s conference call, held to try to appease fuming regional partners over the investments made by a small group in ABS LawVest.

Word is that Tony Angel’s response to one question – how could the board be confident that the investments were made in good faith if it didn’t know the identity of all the partners involved? – was simple. Silence.

Today The Lawyer has some additional questions of its own:

How many DLA Piper partners does the board believe have made investments?

What guarantees has the board been given that they will divest those stakes?

What steps if any is the firm taking to amend its governance code?

And why did Sir Nigel Knowles not tell the board about his investment?

Today’s instalment is a meeting for the London partners to discuss the issue. Perhaps today there’ll be some resolution to this matter, but don’t hold your breath.