Akerman Shareholders Flee as Pay Drops

, Daily Business Review


Akerman Senterfitt has reported a dramatic 30 percent drop in its non-equity shareholders, capping off a difficult year marked by rapid turnover, the embarrassing collapse of a merger and the revelation that the firm missed its budget. Non-equity shareholders also suffered a 15 percent drop in pay. Firm chairman Andrew Smulian attributed most of the drop in non-equity partners to promotions to equity partnership. But Akerman also reported drop of more than 5 percent in its equity shareholder head count.

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