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Proskauer Rose LLP (formerly known as Proskauer, Rose, Goetz & Mendelsohn, LLP) is an international
law firm
A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise clients (individuals or corporations) about their legal rights and responsibilities, and to r ...
headquartered in New York City. The firm was founded in 1875 and currently employs more than 800 attorneys in twelve offices worldwide.
Proskauer is known for its labor and employment, litigation, corporate, private equity, private investment funds, finance, and intellectual property law departments. The firm is often in the headlines for its sports law group and celebrity clientele. Proskauer has long been the primary outside law firm for the National Basketball Association (NBA). Proskauer is also considered one of America's preeminent employer side labor law firms with specialty in union avoidance, the practice of disrupting and combatting union organizing efforts in their client's workplaces.
Practice overview
Proskauer Rose is a full-service law firm, practicing in areas includingcorporate finance
Corporate finance is the area of finance that deals with the sources of funding, the capital structure of corporations, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and anal ...
, private investment funds, mergers and acquisitions
Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...
, real estate transactions, bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor ...
and reorganizations, taxation
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, o ...
, litigation, trusts and estates
Estate or The Estate may refer to:
Law
* Estate (law), a term in common law for a person's property, entitlements and obligations
* Estates of the realm, a broad social category in the histories of certain countries.
** The Estates, representa ...
, intellectual property
Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, and some countries recognize more than others. The best-known types are patents, cop ...
, and labor and employment law. Its clients include participants in many industries, including chemicals, entertainment, financial services, health care, hospitality, information technology, insurance, internet, manufacturing, media and communications, pharmaceuticals, real estate investment, sport
Sport pertains to any form of competitive physical activity or game that aims to use, maintain, or improve physical ability and skills while providing enjoyment to participants and, in some cases, entertainment to spectators. Sports can, ...
s, and transportation.
Proskauer Rose is known for its sports law department, with clients including all four of the major sports leagues in the US and Canada ( MLB, the NFL
The National Football League (NFL) is a professional American football league that consists of 32 teams, divided equally between the American Football Conference (AFC) and the National Football Conference (NFC). The NFL is one of the major ...
, the NHL
The National Hockey League (NHL; french: Ligue nationale de hockey—LNH, ) is a professional ice hockey league in North America comprising 32 teams—25 in the United States and 7 in Canada. It is considered to be the top ranked professional ...
, and the NBA). In December 2006, The Legal U.S. 500's annual ranking of the top law firms for corporate work singled Proskauer out for excellence in private equity, international M&A, high-yield debt and hedge fund formation.
Offices
United States
Proskauer's New York City office, located in Times Square, is its headquarters. In 2012, the firm was given ''Tier 1'' rankings for its advertising law, appellate, arbitration, bankruptcy, litigation, corporate, criminal, ERISA, entertainment law, environmental, healthcare, insurance, labor and employment, patent, real estate, sports law, trademark, and trusts and estates practice groups. Proskauer's second largest office is inBoston
Boston (), officially the City of Boston, is the capital city, state capital and List of municipalities in Massachusetts, most populous city of the Commonwealth (U.S. state), Commonwealth of Massachusetts, as well as the cultural and financ ...
, where the firm has been referred to as "a powerhouse in the private equity world," for having one of the world's leading private investment fund law practices. The Boston office received ''Tier 1'' rankings for its private investment fund, labor law, intellectual property, corporate finance, tax, and ERISA practice groups. Additionally, the firm's pro bono and government work is led by former Massachusetts Attorney General Scott Harshbarger. The firm's Boston office was also noted for representing Facebook
Facebook is an online social media and social networking service owned by American company Meta Platforms. Founded in 2004 by Mark Zuckerberg with fellow Harvard College students and roommates Eduardo Saverin, Andrew McCollum, Dustin ...
, Inc. and Mark Zuckerberg during his company's legal fight with ConnectU.
The firm's Los Angeles
Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the wor ...
office is known for its high-profile litigation, corporate, and private equity work, which included the representation of Ares Management and the Ontario Teachers' Pension Plan in their $1.65 billion acquisition of General Nutrition Centers. The firm's Washington DC office is known for its employee benefits and executive compensation, securities regulation and enforcement, healthcare, and labor groups. The firm's Chicago
(''City in a Garden''); I Will
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office is known primarily for its bankruptcy, healthcare, and insurance law practices. The New Orleans
New Orleans ( , ,New Orleans
Boca Raton office has a prominent wealth management and planning group for high-net-worth clients, along with significant labor and employment, tax, and corporate law groups.
In February 2012, Proskauer Rose increased its gross revenue by 6.4 percent to $686 million and its average profits per partner 9 percent to $1.7 million, according to The American Lawyer's reporting. In 2013, Proskauer Rose again increased its revenue by more than 7%, to over $700 million. These figures place Proskauer Rose as one of the fastest growing law firms in the United States. The firm's robust financial performance came amid a busy year for office moves. The most significant shuffle saw Proskauer move its New York headquarters to 11 Times Square in January, 2011. With more than 400,000 square feet of space spread across 14 floors, the firm is the new building's anchor tenant—with its name splashed across the facade in a 40-foot-by-10-foot backlit sign. Proskauer Rose saw gross revenue of $1.17 billion in 2021, up from $990 million in 2020.
Selections for Southern California Super Lawyers are based on peer nominations and independent research by the editors of Law & Politics magazine. Proskauer Rose received the 2003 Special Award of Merit by the
Proskauer Rose
organizational profile at the National Law Review. Law firms based in New York City Law firms established in 1875
International
Proskauer'sLondon
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
office is the firm's largest location outside of the United States. In 2013, ''Chambers UK'' ranked its private equity group as one of the "best in the UK." The office also has highly rated tax, finance, and corporate practice groups. The firm's Paris
Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. ...
office is known internationally for its labor and employment law practice, along with its competition and antitrust, merger control, EU common market law, and corporate law groups.
The firm's offices in China, located in Beijing
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Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...
and Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...
, are known for their work in sports law (e.g., NBA China), financing, mergers & acquisitions, reorganizations, going-private transactions, and structured finance, which often include cross border elements.
The firm's Latin America
Latin America or
* french: Amérique Latine, link=no
* ht, Amerik Latin, link=no
* pt, América Latina, link=no, name=a, sometimes referred to as LatAm is a large cultural region in the Americas where Romance languages — languages derived ...
n presence is centered in São Paulo
São Paulo (, ; Portuguese for 'Saint Paul') is the most populous city in Brazil, and is the capital of the state of São Paulo, the most populous and wealthiest Brazilian state, located in the country's Southeast Region. Listed by the Ga ...
, Brazil
Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...
. The firm's Latin America practice is highly regarded, representing clients, such as Banco Itaú-BBA, Banco Votorantim, WestLB, Banco Santander, Votorantim Group, CSN, the Abril Group, and TV Band. The Latin American team notably represented Banco BTG Pactual US Capital Corp. (and other underwriters) in the establishment by Banco BTG Pactual S.A. of a $3 billion Global Medium Term Note Program and issue of $500 million senior notes with BTG Pactual US Capital Corp. as arranger and BTG Pactual US Capital Corp., JP Morgan and Bradesco BBI as underwriters, as well as Iochpe-Maxion, a publicly traded Brazilian auto parts and railway equipment manufacturer, in the acquisition of Michigan-based Hayes Lemmerz International, Inc. for approximately $725 million.
Proskauer's pro bono efforts in Iraq
Iraq,; ku, عێراق, translit=Êraq officially the Republic of Iraq, '; ku, کۆماری عێراق, translit=Komarî Êraq is a country in Western Asia. It is bordered by Turkey to Iraq–Turkey border, the north, Iran to Iran–Iraq ...
serves as an example of the firm's international efforts to assist Iraqi and other families, who are threatened as a result of their association with American and coalition forces, to find safety in the United States.
History
Throughout its history, the firm's headquarters has been located in the area of Times Square, in midtownManhattan
Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five Boroughs of New York City, boroughs of New York City. The borough is also coextensive with New York County, one of the List of co ...
, where it grew from fewer than a dozen lawyers originally to nearly 800. A full-service practice, it is currently among the ten largest law firms in New York City.
William R. Rose started the firm that is now Proskauer Rose when, at 21 years of age, he opened a law firm on Broadway in Downtown Manhattan in 1875. In 1907, Rose promoted associate Benjamin Paskus to partner and renamed the firm Rose & Paskus. Rose & Paskus was one of the first firms to develop a specialized tax practice after the passage of the Sixteenth Amendment to the United States Constitution in 1913. In 1930, Judge Joseph M. Proskauer resigned his position on New York's Appellate Division to join the firm, which was then renamed Proskauer, Rose & Paskus. The firm shortened its name to Proskauer Rose in 1997.
Proskauer Rose is historically known as a "Jewish law firm" for its willingness to cross traditional historic and cultural hiring norms that other major New York City law firms were unwilling to do at the time. Because of its willingness to employ Jewish lawyers, Proskauer is not known as a traditional "white shoe
A white-shoe firm is an American term used to describe prestigious professional services firms that have traditionally been associated with the upper-class elite who graduated from Ivy League colleges. The term is most often used to describe lea ...
" law firm, though over the past quarter-century it has gained the reputation as one of the "new white shoe" law firms. Thus it cannot rely on long-standing ties to old money or big investment banks. Rather, the firm has historically focused its practice on labor and employment law, as well as building up significant litigation, health care, sports and entertainment, bankruptcy, and taxation practices.
In December 2004, a large group of lawyers from the Boston-based law firm of Testa, Hurwitz & Thibeault joined the Boston office of Proskauer Rose.
Revenue and profitability
In February 2012, Proskauer Rose increased its gross revenue by 6.4 percent to $686 million and its average profits per partner 9 percent to $1.7 million, according to The American Lawyer's reporting. In 2013, Proskauer Rose again increased its revenue by more than 7%, to over $700 million. These figures place Proskauer Rose as one of the fastest growing law firms in the United States. The firm's robust financial performance came amid a busy year for office moves. The most significant shuffle saw Proskauer move its New York headquarters to 11 Times Square in January, 2011. With more than 400,000 square feet of space spread across 14 floors, the firm is the new building's anchor tenant—with its name splashed across the facade in a 40-foot-by-10-foot backlit sign. Proskauer Rose saw gross revenue of $1.17 billion in 2021, up from $990 million in 2020.
Pro bono
In 2012, Proskauer argued before the U.S. Supreme Court in a ruling that the Fair Sentencing Act of 2010 (FSA), which reduced the disparity in federal sentencing between crack and powder cocaine offenses, applies to defendants who were sentenced after its passage even though their offenses pre-dated the law. The firm is also noted for hosting an Election Protection call center during every election cycle since the 2012 Presidential election. In 2010, Proskauer received the Law Firm Pro Bono Award at the William O. Douglas Award Dinner in Los Angeles, sponsored by Public Counsel, the United States' largest pro bono public interest law firm. In 2019, Proskauer was named to The National Law Journal's "Pro Bono Hot List."Ranking and awards
According to a study by Yale Law Women (co-sponsored by women's law groups at Stanford, Harvard, Columbia, Chicago, Berkeley, Northwestern, and Virginia), Proskauer Rose ranked second in their list of top ten family-friendly firms of 2007. In 2007, Proskauer Rose was named among the top United States firms practicing corporate and finance law in The Legal 500 US Volume I: Corporate & Finance, a ranking of the "best of the best" U.S. law firms. Proskauer was named a leader in the following categories: Private Equity; International Mergers and Acquisitions; Capital Markets; Investment Funds - Alternative/Hedge Fund Formation. In 2008, Proskauer was named the fastest-growing law firm for the third consecutive year in Boston Business Journal's annual ranking of the area's 100 largest law firms. With the addition of 25 lawyers since January 2007 - a 30-percent growth rate - the firm is ranked 17th in the year' survey. Fifteen lawyers from Proskauer Rose were named in Southern California Super Lawyers 2008, an annual guide to the top lawyers in the region (the firm was represented in 10 different practice areas).Proskauer Rose LLP - Proskauer Rose Announces 15 Lawyers Named in Southern California Super Lawyers 2008Selections for Southern California Super Lawyers are based on peer nominations and independent research by the editors of Law & Politics magazine. Proskauer Rose received the 2003 Special Award of Merit by the
New York Women's Bar Association
The New York Women's Bar Association (NYWBA) is a non-profit organization devoted to improving the status of women in society, educating women lawyers and assisting them in professional development and advancement, and promoting the fair and equal ...
for its contribution to the advancement of women.
In 2022, Proskauer Rose was the winner of the 18th British Private Equity Award and awarded 'Law Firm of the Year for Structuring'.
Notable clients and cases
*Proskauer Rose represented Silverstein Properties, owner of the World Trade Center towers in New York that were destroyed by the terrorist attack on September 11, 2001, in a dispute with its insurers. *The firm won a copyright case in 2006 when they represented the rock band The White Stripes against a former producer regarding the ownership rights in the band's first two albums. *The firm represented the League of American Theatres and Producers during the stagehands strike in the fall of 2007. *The Association of Community Organizations for Reform Now (ACORN) hired Proskauer in 2009 to conduct an investigation into its operations and write a report regarding the undercover video controversy. *In 2015, Last Week Tonight host John Oliver employed the firm to purchase a $9.5million Manhattan penthouse using several shell companies set up on his behalf by the firm, taking advantage of a tax loophole called 421-a to reduce his property tax bill by as much as $300,000. *In 2017, Proskauer Rose represented Celgene in its $9 billion acquisition of cancer drug maker Juno Therapeutics. *In 2019, Proskauer Rose represented the Big East Conference as it readmitted the University of Connecticut back to the Big East.Notable alumni
* Gary Bettman, Commissioner of theNational Hockey League
The National Hockey League (NHL; french: Ligue nationale de hockey—LNH, ) is a professional ice hockey sports league, league in North America comprising 32 teams—25 in the United States and 7 in Canada. It is considered to be the top ranke ...
* Lloyd Blankfein
Lloyd Craig Blankfein (born September 20, 1954) is an American investment banker who has served as senior chairman of Goldman Sachs since 2019, and chairman and chief executive from 2006 until the end of 2018. Previous to leading Goldman Sachs, ...
, CEO of Goldman Sachs
* David Braun, music industry lawyer, former lawyer of Bob Dylan
Bob Dylan (legally Robert Dylan, born Robert Allen Zimmerman, May 24, 1941) is an American singer-songwriter. Often regarded as one of the greatest songwriters of all time, Dylan has been a major figure in popular culture during a career sp ...
and president of Polygram Records
* Michael A. Cardozo, former President of the New York City Bar Association
* Robert A. Gorman (born 1937), law professor at the University of Pennsylvania Law School
* Sylvan Gotshal
Sylvan H. Gotshal (March 21, 1897 – August 11, 1968) was an American lawyer, known for his advocacy of industrial design rights. He was a founding partner of Weil, Gotshal & Manges in 1931.
Born in Memphis, Tennessee, to Leopold and Julia (n� ...
, co-founder of Weil, Gotshal & Manges
* David Kahn, President of basketball operations for the Minnesota Timberwolves
* Steven C. Krane, partner and general counsel
* Doug Perlman, founder of Sports Media Advisors
* Moose Scheib, founder and CEO of LoanMod.com
* David Stern, Commissioner of the National Basketball Association
* Frank Weil
Frank Leopold Weil (March 6, 1894 – November 10, 1957) was an American lawyer. He was a founding partner of Weil, Gotshal & Manges in 1931.
Born in New York City, Weil attended Columbia Law School, where he became friends with Samuel Irving ...
, co-founder of Weil, Gotshal & Manges
* Joseph M. Proskauer, New York Supreme Court
The Supreme Court of the State of New York is the trial-level court of general jurisdiction in the New York State Unified Court System. (Its Appellate Division is also the highest intermediate appellate court.) It is vested with unlimited civ ...
judge and name partner of the firm
See also
* List of largest United States-based law firms by profits per partnerReferences
External links
*{{Official website, http://www.proskauer.com/Proskauer Rose
organizational profile at the National Law Review. Law firms based in New York City Law firms established in 1875