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The official injury attorneys of the LSU Tigers Dudley Debosier sell out to PE
Posted on 4/21/26 at 2:56 pm
Posted on 4/21/26 at 2:56 pm
Private equity is trying to get its hooks into law firm equity. Generally, it is verboten in for non-lawyers to share fees with lawyers. The way around it is to create an third-party management company that siphons money out of the law firm in the form of management fees. This happens in the healthcare industry all the time. Wall Street is aggressively trying to tap into law firm profits as a new, previously unavailable revenue stream.
The official injury attorneys of the LSU Tigers Dudley Debosier are on the bleeding edge of selling out to PE.
LINK
The official injury attorneys of the LSU Tigers Dudley Debosier are on the bleeding edge of selling out to PE.
LINK
quote:
Last week, Dudley DeBosier, a Louisiana personal injury firm, finalized a private equity deal with Uplift Investors. The structure uses a Managed Service Organization to sidestep professional ethics rules that prohibit non-lawyer ownership of law firms. The MSO houses technology, finance, and back-office functions in a separate entity that private equity can own. The law firm remains "100 percent owned by attorneys" while paying fees to the MSO that make the arrangement lucrative for investors.
This is not an isolated deal. The Financial Times reports that McDermott Will & Emery, one of the 20 largest law firms by global revenue, and white-collar defense firm Cohen & Gresser are considering similar structures. A Texas ruling last year gave MSOs a regulatory blessing if they follow certain guidelines. The floodgates are opening.
Make no mistake about it the goal of private equity is to extract as much value as possible and then sell within 5 years.
If you're a lawyer who thinks this won't affect your practice area, you're wrong.
quote:
The Dudley DeBosier deal signals acceleration. Legal services have been the last major professional sector without significant private equity penetration. That's changing quickly.
Professional ethics rules were supposed to protect the independence of legal advice by ensuring lawyers owned their firms. The MSO structure demonstrates that determined capital will find workarounds. Expecting regulators to save you from competition is not a strategy.
21
Posted on 4/21/26 at 2:58 pm to T1gerNate
(no message)
This post was edited on 4/21/26 at 3:41 pm
Posted on 4/21/26 at 2:59 pm to T1gerNate
i will stick to locally owned personal injury lawyers
Posted on 4/21/26 at 3:06 pm to T1gerNate
I see HOW you can get around it. But as a client, seeing how PE tends to work, I certainly wouldn't want to get involved with that sort of firm/attorney.
Posted on 4/21/26 at 3:07 pm to _Hurricane_
quote:
Eventually AI will replace every lawyer at these firms except the Partners and a few grunts who check everything the AI produces and show their face in court every now and again. Retarded decision to go to law school rn.
No it won't; it's much more likely to replace the support staff. You may end up not needing a receptionist or a paralegal, but AI can't go to court and can't negotiate with opposing attorneys/parties. Now, large firms may need fewer associates, but you still need an attorney at the end getting things across the finish line.
Posted on 4/21/26 at 3:12 pm to _Hurricane_
quote:
Eventually AI will replace every lawyer at these firms except the Partners and a few grunts who check everything the AI produces and show their face in court every now and again. Retarded decision to go to law school rn.
Bull crap. No, it won't. For one thing, AI is too unreliable to trust with legal opinions. Attorneys across the country are being sanctioned for citing non-existent cases or misinterpreting what a case says.
In fact, those idiots at Dudley Douche are in hot water in the Federal court for doing just that.
Posted on 4/21/26 at 3:12 pm to T1gerNate
There’s so much money in the industry that the big guys can get filthy rich and it’s still attractive enough to invest in for PE. Tell me again how it’s all about helping injured people fight the big bad insurance company.
Posted on 4/21/26 at 3:15 pm to TigerGman
l
This post was edited on 4/21/26 at 3:41 pm
Posted on 4/21/26 at 3:17 pm to Joshjrn
(no message)
This post was edited on 4/21/26 at 3:41 pm
Posted on 4/21/26 at 3:20 pm to T1gerNate
PE running a PI firm just sounds shady as shite.
Posted on 4/21/26 at 3:21 pm to _Hurricane_
I am surrounded by lawyers of all sorts in my job and they use AI sometimes for things like NDAs and simple non-competes/non-solicits. It gets those 80-90% right with a ton of past examples and great prompting.
It absolutely shits the bed with complex documents. We'll feed it 20 example asset purchase agreements (200+ pages each) from similar transactions with same buyer and very similar sellers and give it parameters and guardrails.
It's absolutely garbage every time. We've had AI "experts" come and help with prompts and it still shits out garbage. It's not hallucinations either.
Not saying it won't be more useful in the future, but it replacing most of the lawyers seems really implausible. There is just so much nuance to most complex legal documents.
It absolutely shits the bed with complex documents. We'll feed it 20 example asset purchase agreements (200+ pages each) from similar transactions with same buyer and very similar sellers and give it parameters and guardrails.
It's absolutely garbage every time. We've had AI "experts" come and help with prompts and it still shits out garbage. It's not hallucinations either.
Not saying it won't be more useful in the future, but it replacing most of the lawyers seems really implausible. There is just so much nuance to most complex legal documents.
Posted on 4/21/26 at 3:21 pm to red sox fan 13
quote:
PE running a PI firm just sounds shady as shite.
Meant for each other.
Posted on 4/21/26 at 3:26 pm to _Hurricane_
quote:
That’s the issue, and why I said going to law school is stupid right now. There will be attorneys with jobs always, just a lot less of them will be needed.
The overwhelming majority of attorneys don't work in large firms. I don't see AI having a significant impact on the number of small firms/solo practitioners there are out there, which is the majority of attorneys.
Posted on 4/21/26 at 3:27 pm to T1gerNate
As long as Chicken doesn't sell out to PE.
Posted on 4/21/26 at 3:29 pm to _Hurricane_
quote:lawyers need to learn to code
Retarded decision to go to law school rn.
Posted on 4/21/26 at 3:29 pm to Joshjrn
quote:
The overwhelming majority of attorneys don't work in large firms. I don't see AI having a significant impact on the number of small firms/solo practitioners there are out there, which is the majority of attorneys.
And those small shops can become more efficient, but they need to use it responsibly.
Posted on 4/21/26 at 3:34 pm to CatfishJohn
quote:
And those small shops can become more efficient, but they need to use it responsibly.
While they certainly can become more efficient, the reality is that the majority of their "working time" is spent either physically in court, in direct communication with opposing counsel, or in direct communication with clients. In 2026, basic document prep just isn't that big of a deal, and that's without AI.
Posted on 4/21/26 at 3:35 pm to _Hurricane_
Lawyers (politicians) will pass legislation keeping AI out of certain aspects of the practice. They are surprisingly one of the most immune to the digital takeover.
The emergence of AI may even expand some niches of civil law such as IP and copyright.
The emergence of AI may even expand some niches of civil law such as IP and copyright.
Posted on 4/21/26 at 3:35 pm to Uncommon Idea
quote:
seeing how PE tends to work, I certainly wouldn't want to get involved with that sort of firm/attorney.
Absolutely not.
Posted on 4/21/26 at 3:38 pm to T1gerNate
I heard that PE is partially doing this as a data grab to then package and sell.
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