July 10, 2012
The most significant merger for consumer law in U.S. history has been inked between Jacoby & Meyers, L.L.C., and Macey Bankruptcy Law, P.C. Jacoby & Meyers, America’s largest full service consumer law firm, announces a merger with Macey Bankruptcy Law, P.C., the nation’s largest consumer bankruptcy firm. This is the largest consolidation of consumer law firms in U.S. history. The resulting national bankruptcy practice section of Jacoby & Meyers will be known as Jacoby & Meyers-Bankruptcy, L.L.P., and will have the combined resources of the two nationwide law firms. Jacoby & Meyers will now have more than 135 offices and be available to practice law for consumers in a wide variety of practice areas in all 50 states plus the District of Columbia. Jacoby & Meyers seeks to further separate itself from other consumer law firms in the United States by making its legal footprint across the U.S. more than four times the size of its closest law firm competitor.
Jacoby & Meyers now has over 310 attorneys and 600 non-attorney staff doing legal work for clients on behalf of the firm. With this bold new move, Jacoby & Meyers is uniquely positioned to serve a larger population of consumers in need of legal services. Jacoby & Meyers, known for its work for injury victims, will continue expanding deeper into other practice areas, including further growth in the coming months in the areas of personal injury, mass torts (pharmaceutical litigation), criminal defense, Social Security and other core consumer practice areas.
Macey Bankruptcy Law, based in Chicago, IL, has been representing consumer debtors in bankruptcy since 1994. It has been North America’s largest bankruptcy firm for more than a decade with a client base of more than 200,000 and has served up to 40,000 clients per year in consumer bankruptcy. During the past 18 months, Macey Bankruptcy has helped more than 75,000 clients eliminate over an estimated $1 billion in debt. Tom Macey, senior partner of Macey Bankruptcy, states that, “In addition to its offices nationwide, Macey Bankruptcy Law credits its successful growth to its dedication to customer service and commitment to fair and reasonable fees, which are a perfect match with Jacoby & Meyers’ corporate philosophy of offering quality services at affordable rates, which it has done for 40 years.”
For Jacoby & Meyers, the merger is just one of several merger and consolidation projects that the law firm is planning over the next few months, according to Chase Givens, a Jacoby & Meyers manager of mergers and acquisitions. “This latest move is just part of our plans to expand the consumer legal services offered by Jacoby & Meyers. Innovating and revolutionizing the practice of law has always been a focus of our firm, and we intend to continue this tradition of finding new ways to make legal services more accessible to everyone,” Givens said.
The Jacoby & Meyers Bankruptcy division’s Managing Partner Jeff Aleman said, “We are pleased with this move to combine the efforts of our two firms to better serve our current and prospective clients.” Jacoby & Meyers Bankruptcy Law’s Chicago-based administrative office located in the Willis Tower (formerly the Sears Tower) will remain in place to serve bankruptcy clients, with the anticipation of expanding Jacoby & Meyers’ personal injury practice in the Chicago area. Major regional hubs of Jacoby & Meyers’ office system, including New York, Los Angeles, Washington, D.C., Miami, as well as the 135 other regional and local offices will also serve clients needing bankruptcy advice along with the other consumer legal services currently offered by Jacoby & Meyers. Please visit the firm’s user-friendly, interactive and informative bankruptcy website at http://www.jacobymeyersbankruptcy.com.
Jacoby & Meyers has also taken the lead in exploring Alternative Business Structures (ABS) similar to those already underway in the United Kingdom and Australia. The firm has undertaken legal action to allow non-lawyers to invest in U.S. law firms. Last year, Jacoby & Meyers filed federal lawsuits in New York, New Jersey and Connecticut seeking to change bar association rules that curtail its ability to raise capital from outside investors. While a federal judge in New York dismissed the lawsuit there, saying the court lacks the jurisdiction to hear the case, the actions in New Jersey and Connecticut are proceeding, and the New York lawsuit is on appeal. With such investment, Jacoby & Meyers will be able to expand its services in communities where working-class, blue-collar and immigrant families reside.
While all 50 states currently ban outside non-lawyer investments in law firms, Washington, D.C. firms have been allowed to have non-lawyer investors for more than two decades. Len Jacoby, founding partner of Jacoby & Meyers said, “As this move by two of America’s largest consumer law firms to consolidate legal services indicates, we will not wait on external capital to continue our expansion efforts and we expect to make several other announcements in the coming months regarding our growth to better serve clients.”
Contact: Robin Rainer
About Jacoby & Meyers: Jacoby & Meyers, recognized as a pioneer of consumer legal services reform, is America's largest full-service consumer law firm, helping clients and families obtain assistance in the U.S. legal system. It is Jacoby & Meyers' goal to make lawyers and the legal system more accessible and affordable for every American. Since its inception in 1972, Jacoby & Meyers has grown to become the largest, best known and one of the most innovative law firms in the U.S. with over 135 offices serving all 50 U.S. states. For more information on the Jacoby & Meyers law firm, go to http://www.jacobymeyers.com.
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