4 Latham & Watkins Lawyers Leaving to Start Own Firm

Four associates at the Orange County office of Latham & Watkins announced that they are leaving to start their own real estate law firm next week in Irvine.

The lawyers had been part of Latham’s nine-lawyer real estate department. They will operate under their names--Corey, Croudace, Dietrich & Dragun.

“We will offer clients the same quality of service at rates that will be 20% to 40% lower,” Daniel E. Corey, a partner in the new firm, said Monday. “Everyone in real estate is looking for ways to save money right now. We’re not trying to steal clients from Latham & Watkins, but we are letting people know that we’re open for business now.”

Based in Los Angeles, Latham & Watkins has about 50 lawyers in its Costa Mesa office and 600 nationwide.

Pat Seaver, a partner in Latham & Watkins’ Costa Mesa office, said the announcement by the associates took him by surprise.

“But in a big law firm like ours, you’re bound to see people leave to start their own business,” he said. “It’s exciting for them.”

The new firm’s reduced rates “will be attractive to some clients,” Seaver said. “However, we believe we compete on our service, not on our price.”