Parker Chapin Flattau & Klimpl
A former New York City law firm known for middle-market securities work, municipal law, real estate matters, and securities litigation.
Last updated August 26, 2026
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Overview
Parker Chapin Flattau & Klimpl was a New York City-based law firm that operated from 1934 until 2001. It developed a reputation as a prominent mid-sized New York practice, particularly in corporate and securities law. The firm was frequently characterized as a corporate and securities boutique because of the strength of its middle-market securities practice, which included securities litigation and arbitration as well as transactional representation. The firm's securities clients included companies such as Sbarro, Sotheby's, and Logitech, according to filings made with the U.S. Securities and Exchange Commission. Its work was not limited to public-company and capital-markets matters. Parker Chapin was also closely associated with New York City municipal law and with real-estate development and other property-related projects in the city. This combination of securities, municipal, real-estate, and corporate capabilities gave it a distinctive position among established New York firms of moderate size. In 2001, Parker Chapin merged with the Dallas-based law firm Jenkens & Gilchrist. The combined New York practice operated under the name Jenkens & Gilchrist Parker Chapin, and the former Parker Chapin organization had approximately 125 attorneys at the time of the merger. The transaction connected the New York firm to a larger national platform, but the relationship did not remain stable. In 2005, approximately 90 Parker Chapin attorneys left to establish a New York office for the Atlanta-based firm Troutman Sanders. The new office remained in the Chrysler Building, the same prominent Manhattan location associated with the former Parker Chapin practice. The departure was linked to dissatisfaction among the New York partners with liabilities incurred by Jenkens & Gilchrist, especially liabilities associated with the firm's tax-shelter practice in Chicago. Those liabilities ultimately contributed to the collapse of Jenkens & Gilchrist. Parker Chapin therefore continued to have a professional presence through lawyers who joined Troutman Sanders, but the original firm ceased to exist as an independent law-firm brand. In 2007, a New York jury ordered the former Parker Chapin firm to pay $7 million in damages after finding that one of its partners had breached fiduciary duties and caused a client to lose a lucrative business opportunity. This judgment is one of the principal later legal developments associated with the firm's legacy.
History
Parker Chapin Flattau & Klimpl was established in New York City in 1934 and practiced for roughly seven decades. It became one of New York's recognized mid-sized law firms, with a practice centered on corporate and securities work. Its securities department was particularly associated with middle-market clients and handled both transactional matters and disputes, including securities litigation and arbitration. Securities clients identified through U.S. Securities and Exchange Commission filings included Sbarro, Sotheby's, and Logitech. The firm's practice also reflected its New York location. Parker Chapin developed close ties to New York City municipal law and represented interests involved in real-estate development and related city projects. These areas complemented its corporate practice and made the firm a participant in the legal infrastructure of New York business, property, and public-sector activity. In 2001, the firm merged with Jenkens & Gilchrist, a Dallas-based law firm. The resulting New York operation used the name Jenkens & Gilchrist Parker Chapin. At the time of the combination, the Parker Chapin practice had about 125 attorneys. The merger was intended to place the established New York practice within a broader firm structure, but subsequent events weakened the arrangement. By 2005, the Parker Chapin partners had become dissatisfied with the liabilities being accumulated by Jenkens & Gilchrist, particularly liabilities connected with its Chicago tax-shelter practice. Approximately 90 attorneys departed and formed a New York office for Troutman Sanders, an Atlanta-based firm. The attorneys remained in the Chrysler Building, preserving the physical continuity of the former Parker Chapin office even though the Parker Chapin name was no longer used as an independent firm identity. Jenkens & Gilchrist later collapsed under the weight of its liabilities. The firm's post-merger legacy also included litigation. In 2007, a New York jury ordered the former Parker Chapin firm to pay $7 million in damages after determining that one of its partners had breached fiduciary duties and harmed a client's opportunity to complete a lucrative business transaction. Because Parker Chapin had ceased operating independently, the judgment concerned the former firm rather than an active standalone law-firm business. Its institutional legacy survives primarily through the lawyers and practices that moved into successor organizations, especially the Troutman Sanders New York office.
- 2007
Fiduciary-duty damages judgment
[1]A New York jury ordered the former firm to pay $7 million in damages in a case involving a partner's alleged breach of fiduciary duties.
- 2005
Former Parker Chapin lawyers join Troutman Sanders
[1]Approximately 90 attorneys moved to establish a New York office for Troutman Sanders in the Chrysler Building.
- 2001
Merger with Jenkens & Gilchrist
[1]The firm merged with Dallas-based Jenkens & Gilchrist and became part of the combined Jenkens & Gilchrist Parker Chapin practice.
- 1934
Firm established in New York City
[1]Parker Chapin Flattau & Klimpl began practicing as a New York City law firm.
Products and positioning
A prominent mid-sized New York law firm with a corporate and securities boutique profile, complemented by municipal-law and New York real-estate capabilities.
Legal services
Corporate and securities law
The firm's best-known practice was its corporate and securities work, especially representation of middle-market businesses and securities issuers. The practice included transactional advice and work connected with public-company disclosure and regulatory filings.
Legal services
Securities litigation and arbitration
Parker Chapin's securities capabilities extended beyond transactions to disputes. The firm was associated with securities litigation and arbitration, giving it a combined contentious and advisory profile within the securities field.
Legal services
Municipal law
The firm was closely associated with New York City municipal law. This work connected its lawyers to legal issues involving city government, public-sector activity, and development-related matters in New York.
Legal services
New York real-estate development law
Parker Chapin advised on real-estate development and related property matters in New York City. This practice complemented the firm's municipal and corporate work and formed an important part of its local-market identity.
Controversies
Brand decisions
2005
Former Parker Chapin partners establish Troutman Sanders New York officeStrategyBackground
The New York partners were reportedly dissatisfied with liabilities incurred by Jenkens & Gilchrist, especially those associated with its Chicago tax-shelter practice.
Action taken
Approximately 90 attorneys left the Jenkens & Gilchrist Parker Chapin organization to open a New York office for Troutman Sanders.
Aftermath
The move ended the practical continuity of Parker Chapin as an independent brand, although the lawyers remained in the Chrysler Building and continued their work under the Troutman Sanders name.
2001
Merger with Jenkens & GilchristM&ABackground
Parker Chapin pursued a combination with Dallas-based Jenkens & Gilchrist to operate within a larger law-firm platform.
Action taken
The firms merged and the New York practice adopted the Jenkens & Gilchrist Parker Chapin name.
Aftermath
The combined practice later lost most of the former Parker Chapin partners, and Jenkens & Gilchrist ultimately collapsed amid liabilities linked in part to its tax-shelter practice.
Sources1 sources
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