Things are pretty bad over at Fish & Richardson. I think things have to be really bad for a firm to wait until so late in the game to announce they are deferring people for a year and essentially rescinding offers. That's indeed the announcement the firm management made today, as reported by Above the Law (with some really, really, really angry tipsters weighing in).
Directly from the firm's press release:
"While approximately one-third of our 2009 associate class will start on
time, we are deferring the majority of the class to October 2010. About
half of those deferred will receive a stipend of $5,000 per month for
twelve months, along with reimbursement for health insurance. We have
informed the other half of those deferred that, given current economic
conditions, it is unlikely that we will have a position for them next
fall, and we have advised them to seek other opportunities. That group
will receive a stipend of $5,000 per month for six months, along with
reimbursement for health insurance, and we will revisit their
situations in mid-2010."
This is one of the worst deals for law students to make its way onto our table of doom. Sorry about this one, guys.
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Posted by: blampimigratt | June 30, 2011 at 12:58 AM