Jackoway Tyerman Wertheimer Austen Mandelbaum & Morris plans to dissolve its current professional corporation to form a limited liability partnership, a structure commonly used by professionals such as accountants and lawyers to protect individual partner assets.
In a suit filed Friday, Hirsch and three lawyers who joined him to set up a new practice alleged that the plan would undervalue assets, improperly concentrate control in the hands of a few partners and fail to fully compensate the lawyers.
Partner Jim Jackoway said the lawsuit “is absolutely without merit and will be vigorously defended.”
