"The old-line Japanese firms will still take their slice."

Jesup & Lamont is a small old-line firm that specializes in institutional brokerage and also provides money management, corporate finance and research.

Some old-line firms are dropping out of management to focus on sales while others are raising fees to make management pay.

The corruption and ruin of an old-line firm, chronicled by a reporter who covered the scandal for The New York Times.

The brokerage, an old-line grain-trading firm, is the principal subsidiary of the Stotler Group.

The new firms know they have to meet certain goals, and the old-line firms are beefing up and becoming more proficient.

Originally, it reflected a stereotype of old-line firms populated by WASPs, but some say the phrase has since become innocuous.

For the plaintiffs' side, the case also presents an unusual alliance of shareholders' lawyers and Cravath, an old-line firm that routinely defends clients sued by shareholders.

The old-line firm, founded in 1853, was known for being a pioneer with its huge international practice.

"The old-line firms are going to have to adapt to a new market if they want to survive," Mr. Reid said.