With approximately half the country's Fortune 500 corporations incorporated in Delaware, the firm's practice has a national focus as well as a local and regional base. From its inception, Richards, Layton & Finger has played a significant role in many of the leading cases decided in Delaware courts addressing corporate law and governance, mergers and acquisitions, fiduciary relations, commercial and other general civil matters as well as interpretation of Delaware business laws.
Our Clients
Richards, Layton & Finger's reputation for quality, result-oriented
client service continues to fuel its growth. The firm's lawyers
pride themselves on keeping clients informed and involved. As a
result, the firm has developed long-term relationships with its
clients and with co-counsel at some of the country's largest law
firms.
Richards, Layton & Finger's ever-expanding
client list includes some of the largest public companies in the
world, innovative technology companies, national and regional financial
institutions, insurance companies, chemical and other manufacturers,
agricultural producers and processors, health care providers, real
estate developers, contractors, consulting professionals, governments
and governmental agencies, professional sports teams, utility companies,
telecommunications companies, retailers, investment bankers, prominent
individuals and entrepreneurs of all types.
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Firm Background
The founder of the firm, Robert H. Richards, began practicing law
in Georgetown, Delaware in 1897. Two years later, he moved his practice
to Wilmington. In 1906, Mr. Richards hired Aaron Finger, the sixteen-year
old son of a recently deceased immigrant, as a secretary with the
promise of training him for the bar. After passing a college equivalency
examination and the Delaware bar examination, Mr. Finger became
the first Jewish lawyer in Delaware and a partner with Mr. Richards
in 1912. Caleb Layton joined Messrs. Richards and Finger as a partner
in 1929, at which time the firm became known by its present name
of Richards, Layton & Finger.
From 1929 through the 1970s, attorneys at Richards, Layton & Finger engaged in many different practice areas, including criminal, banking, real estate, general litigation and, of course, corporate law. During that time period, while the firm was one of the larger firms in Delaware, its size never exceeded 37 attorneys.
In the 1970s and 1980s, Richards, Layton & Finger grew substantially as the firm played a significant role in many principal cases that shaped the structure of corporate law, including such landmark decisions as Paramount Communications, Inc. v. QVC Network, Inc., Moran v. Household International, Inc. and Unocal Corp. v. Mesa Petroleum Co. As corporate law evolved and developed in more recent years, the firm has been at the forefront of this evolution, representing parties in a majority of the leading cases interpreting Delaware corporate law and advising corporations, their directors and stockholders in a wide range of significant transactions, including the recent trial and appeal of In re: The Walt Disney Company derivative litigation.
Richards, Layton & Finger has become the largest of the traditional Delaware law firms. Its material growth since the 1980s was fueled in large part by its outstanding reputation in corporate litigation matters. Capitalizing upon this reputation, the firm has remained a full service law firm and has successfully ventured into new practice areas serving a broad base of national and international clients.
Its Corporate Advisory Group advises Delaware corporations on corporate law and corporate governance issues that arise both in routine operations and in extraordinary transactions such as mergers, acquisitions, spin-offs, restructurings, divestitures and recapitalizations. The firm ranks as one of the top law firms in the country in mergers and acquisitions work and is among the top 10 firms in terms of transactions or deals.
Its Limited Liability Company and Partnership Advisory Group and Trust and Agency Services Group advise non-corporate entities such as limited liability companies, limited partnerships, trusts and general partnerships in many types of transactions such as joint ventures, structured finance, fund matters and other related transactions. Delaware has long been the forum of choice for corporations, but it has also become the forum of choice for alternative entities such as partnerships, limited liability companies and trusts. For example, although the Delaware limited liability company has only been available as an entity option since 1992, there are already more than 359,000 Delaware limited liability companies, which now exceeds the number of Delaware corporations. The firm has capitalized upon its reputation in corporate law to become a principal player in the evolution of alternative entities.
The firm's Restructuring and Bankruptcy Group's growth exploded in the 1990s as Delaware became a forum of choice for Chapter 11 reorganization cases. In the past decade, Delaware has been the venue for nearly half of the nation's largest bankruptcy filings. Richards, Layton & Finger has thus capitalized on its national reputation by becoming a significant player in corporate bankruptcies. The firm ranks among the top firms in the United States for appearances in large bankruptcy cases.
In similar fashion, the United States District Court for the District of Delaware has become a leading venue in resolving intellectual property matters. As a result, the firm is regularly listed among the top U.S. firms for appearances in major patent cases. In addition, with the Delaware state courts being regularly ranked first by the U.S. Chamber of Commerce and with many, if not most, major corporations being subject to suit in Delaware, the members of the firm's Litigation Department are regularly involved in major business litigation of all types.
While its significant growth has largely been
in these areas, Richards, Layton & Finger is true to its local
roots. The firm continues to represent local clients in a broad
range of business, regulatory and litigation matters. Its local
transactional and litigation attorneys also continue to play a significant
role in the community.
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Professional Leadership
The lawyers of Richards, Layton & Finger are leaders in the
profession both in Delaware and nationally. The 2006 edition of Chambers USA: America’s Leading Lawyers for Business awarded four of the firm’s practice areas with its top ranking and recognized 20 of the firm’s attorneys for their legal ability, professional conduct and other qualities most valued by clients. Many members of the
firm are listed in the Delaware section of The Best Lawyers in America
in their respective areas of practice. Members of the firm include
Fellows of the American College of Tax Counsel, the American College
of Real Estate Lawyers, the American College of Mortgage Attorneys,
the American College of Trial Lawyers, and have served as President
of the Delaware State Bar Association, as President of the American
College of Trust and Estate Counsel, on the Board of Governors of
the American College of Real Estate Lawyers and on the Board of
Directors of the American Judicature Society, among other professional
organizations.
Many of the firm's lawyers are also members of American and Delaware State Bar Association committees, including those which involve corporation, limited partnerships, tax, trust and estate and other business laws. Members of the firm have chaired the Corporate, Commercial, Statutory Trust, Employment, Environmental, Tax, Trust and Estates and Real Property Sections of the Delaware State Bar Association. Firm lawyers helped to draft and continue to work to refine Delaware's General Corporation Law, Revised Uniform Limited Partnership Act, Limited Liability Company Act, Statutory Trust Act, Trust Law, Probate Code and Tax Law, as well as many of the state and local real estate laws.
The firm's lawyers have written extensively in learned journals and professional publications and have published numerous works. Among these are the five-volume treatise, "The Delaware Law of Corporations and Business Organizations," one of the standard reference works on Delaware corporate law, and "Delaware Limited Partnerships," a leading authoritative text on Delaware limited partnership law. The firm, in cooperation with the Delaware Economic Development Office, has published a general guide to Delaware business law entitled "Delaware – Laws and Programs Affecting Business." In addition, firm members are frequent speakers on continuing legal education programs around the country.
Members of the firm have held high-level positions in the public sector. A recently retired member served as a United States Congressman, Governor of Delaware and 1988 candidate for the Republican Presidential nomination. A current member served as Delaware Secretary of State and head of Delaware's Division of Corporations. Currently, an associate of the firm serves as a member of the Delaware General Assembly. Richards, Layton & Finger lawyers have also become state and federal judges, law professors and cabinet members in the state government. Members of the firm also serve in leadership roles in various civic, social, religious and charitable institutions.
Commitment to Diversity
Since its inception, Richards, Layton & Finger has been committed to our community. As our professional community has broadened and become more diverse, the firm’s commitment to diversity likewise has continued to grow and develop. Client service means bringing the best skills and talent to meet the needs of the client. In this diverse world, that must mean embracing a culture of diversity that allows us to do the best for our clients and for the community. The firm remains committed to hiring highly qualified professionals who have the skills to be successful in the firm and for the firm, both professionally and personally, and we recognize that an inclusive workplace aids us in achieving this result.
Our commitment to diversity means more than good intentions. It is a policy reflected in the results we have achieved over the years -- the first major law firm in Wilmington to have a Jewish partner, the first to have a female partner, the first to have a partner of color, the first to offer flexible work schedules for its attorneys with family needs. Our goals are achieved by both outside initiatives and by a continually renewed commitment to the professional and personal development and success of each of our attorneys. The firm’s Diversity Committee is charged with developing ways for the firm to undertake initiatives and adopt programs, both within the firm and with the outside communities, designed to improve the overall diversity of the firm.
We can only achieve this result through the commitment of the firm and its leadership to making Richards, Layton & Finger an inclusive workplace that recruits the finest lawyers and nurtures their talents. What allows for success is the firm-wide belief that diversity of people -- whether by reason of gender, ethnicity, race, religion, physical ability, educational background or sexual orientation -- means a diversity of experiences and skills that enhances the firm’s ability to provide preeminent client service.
To that end, Richards, Layton & Finger is engaged in a variety of projects, programs and initiatives in our community that are designed to foster greater diversity in the firm and the Delaware bar. These include:
Delaware Minority Job Fair - In conjunction with the Delaware State Bar Association, the Delaware Minority Job Fair was originally organized by a consortium of Delaware legal employers interested in increasing diversity in the Delaware legal and business communities. Richards, Layton & Finger took a lead role in that organization. This job fair offers law students an opportunity to interview with a variety of well-respected Delaware employers and also to learn about the practice of law in Delaware from leaders of its legal community. A second annual job fair was added to attract first-year minority law students. Since its inception in 1992, Richards, Layton & Finger has served as an ongoing sponsor and participating firm and undertook managing the coordination and organization of both 2007 job fairs.
Delaware Supreme Court’s Task Force on Racial and Ethnic Fairness in the Courts - This task force established by Delaware’s highest court studies and evaluates racial and ethnic fairness issues as they relate to Delaware's court system. For more than ten years, the firm has been represented on this task force.
Delaware State Bar Association Multicultural Judges and Lawyers Section - Members of the firm are involved in this active section of the state bar association. This section of the bar is responsible for several community-based initiatives, including one which seeks to establish mentoring relationships between members of the Section and minority high school students who one day may become members of the bar.
USLFG Committees on Women and Racial Diversity - The United States Law Firm Group (USLFG) is a national network of 19 established law firms. Each independent firm is headquartered in a major city in one of the country's leading commercial states and most have additional offices outside of their home jurisdictions. The firm is represented on both the women's committee and the committee on racial and ethnic diversity of the USLFG. The members of these committees meet each year, and confer frequently by telephone and e-mail, regarding current developments and best practices.
DirectWomen - DirectWomen is an initiative of the American Bar Association to identify women lawyers for appointment to corporate boards. The initiative involves a training institute to provide these women with the necessary tools to be effective board members. Richards, Layton & Finger is one of the first sponsors, and directors of the firm have served on the Development Committee.
Delaware Chapter of CREW - CREW is a national organization of women working in all aspects of the commercial real estate industry including architects, engineers, lawyers, developers, lenders and others. One of our associates founded the Delaware Chapter of CREW, which meets quarterly and provides a network for women with at least 2 years of full-time experience at the professional level in a “qualified field” of commercial real estate.
Pro Bono and Other Community Service - Richards, Layton & Finger’s commitment to public service earned it the 2006 Delaware State Bar Association Pro Bono Leadership Award. Our commitment to diversity is reflected in this commitment to public service and by the organizations and programs we serve, including service projects for the community such as those in recognition of the Martin Luther King, Jr. holiday and Dr. King’s dedication to service to the community. Members of the firm also volunteer their time, effort and energies to other civic and professional organizations dedicated to the improvement and advancement of traditionally underrepresented minorities. These organizations include the National Hispanic Bar Association, and activities include volunteering through the National Latino/Latina Law Students Association as a mentor for prospective law school applicants to provide advice and counseling regarding the law school experience and the application and admissions process.
High School Work-Study Program - Richards, Layton & Finger participates in Howard High School of Technology’s Work-Study Program. Howard High School is a well-regarded technical school with a long history of leadership in the local minority community, having its origin as the pre-eminent black high school in Wilmington during the years of racial segregation. The Program introduces high school students to various fields, including the legal profession. Richards, Layton & Finger has worked with the school’s Advisory Board to develop its curriculum and to assist in coordinating its work-study component. In addition, the firm has played host to students in the Program, introducing them to a law firm environment. This program provides excellent exposure to the workplace for high school students, and links our firm with potential law school minority students.
Elementary School Mentoring - The firm has adopted Bancroft Academy, a City of Wilmington lower school with a predominantly minority population. In an on-going community service project, thirty attorneys and fifteen staff members have been trained as mentors and are currently mentoring and tutoring third and fifth graders at Bancroft in reading and math skills. At the end of the school year, we welcome the students and their teachers for a celebratory lunch. Attorneys take their mentees on a tour of the firm and a visit to their offices. This program allows our attorneys and staff to make a practical, direct contribution to the daily lives and education of the children in our community and exposes those young children to the opportunities available to them. In connection with this program Richards, Layton & Finger has been selected to receive a special tribute signed by the Governor and Lieutenant Governor recognizing the firm’s dedication to youth mentoring in Delaware.
Richards, Layton & Finger has a long tradition of valuing diversity. We also recognize that promoting diversity in our firm and community encourages even greater understanding and appreciation for diversity. Richards, Layton & Finger is proud to be an equal opportunity employer, offering employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, marital status, age, disability, or on any other basis prohibited by state or federal law.
Our Technology
The firm has a number of conference rooms enabled for technology,
including video conferencing and presentation capabilities, and
high-speed access to the Internet for clients. The Visitor Center
provides clients with workspace, a computer, telephone, Internet
access, and scanning/copying/printing capabilities. A trial-prep
room is outfitted for trial presentation rehearsals. Both the trial-prep
room and video conference room are fitted for taking video depositions.
The firm also maintains a live connection to the Secretary of State's
Office in Dover, Delaware, through which it can file documents
and obtain documents and other information on a real-time basis.
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Worldwide Contacts
Membership in several associations of independent law firms provides
Richards, Layton & Finger with extensive worldwide legal contacts
and information. These include Lex Mundi, a global association of
163 independent law firms with members in 93 countries, 49 U.S.
states and territories, and ten Canadian provinces; and the State
Capital Law Firm Group, which has members in virtually every U.S.
state and provides access to legal services in the areas of government
relations and general practice. The firm has served many international
clients in such areas as litigation, merger, acquisitions, domestications,
project financing and corporate control. Its international clients
have included major banks, investment houses, industrial concerns
and telecommunications companies. Members of the firm have helped
promote Delaware through missions abroad and have participated in
public and private efforts to develop cultural and legal exchanges.
Members of Lex Mundi and the State Capital Law Firm Group practice independently and not in a relationship for the joint practice of law.
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