Clint David was quoted in a Nov. 24 article on Law360, "Burleson Closure Reveals Downside To Boom-Fueled Growth," that discussed the news that a Houston-based energy firm will close all five of its offices by the end of the year. Full text can be found on Law360, but a synopsis is below.
The sudden announcement on Nov. 23 that Burleson LLP is going out of business highlighted the impact on energy law firms of the ongoing downturn in energy prices and should be a warning to firms that are weighing expansion.
"Unfortunately, they bet on the wrong horse," said Clint David, managing partner of Fox Rothschild LLP's Dallas office. "To be in business is to take calculated risks. Nine out of the 10 years, it seemed like a pretty good risk."
David also commented that: "With all of the shale work — the boom was so astronomical, it seemed like it would last forever."
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