"Brad Karp is stepping down from his leadership role at Paul Weiss after a trove of emails released by the Justice Department detailed the lawyer's close connections to disgraced financier Jeffrey Epstein. Karp, who has led Paul Weiss since 2008, is immediately relinquishing his role as chairman while staying on as a partner, the firm said Wednesday. Scott Barshay, the well-known M&A dealmaker and chair of the firm's corporate practice, will lead the firm effective immediately."
"It comes less than a year after he landed a controversial deal with President Donald Trump, in which Paul Weiss agreed to provide $40 million in free legal services on shared causes in exchange for Trump rescinding an executive order against the firm. Karp, a litigator who has represented the likes of Citigroup, JPMorgan, and Bank of America, has led Paul Weiss for nearly two-decades, transforming it from a predominantly litigation firm to a $2.6 billion operation and major player in corporate deal work."
Brad Karp relinquished his role as Paul Weiss chairman while remaining a partner after Justice Department emails showed close connections to Jeffrey Epstein. Scott Barshay, chair of the firm's corporate practice, became chairman effective immediately. The move follows a recent controversial arrangement in which Paul Weiss agreed to provide $40 million in free legal services to President Donald Trump in exchange for rescinding an executive order. Karp led Paul Weiss since 2008, transformed it into a $2.6 billion firm, expanded into corporate deal work, and secured major clients including Apollo, Citigroup, JPMorgan and the NFL. Karp will continue focusing on client service.
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