Scan through the Am Law 100 rankings and you won’t be surprised to find that most firms at the top have large and well-established corporate practices. Deals and transactions are the lifeblood of many major firms. They provide consistent work, command high rates and often generate work in other practice areas, including tax, antitrust, […]
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Two global law firms made significant litigation partner hires in Miami this week with the stated purpose of capturing Latin American work. On Tuesday, Reed Smith announced the hiring of international arbitration and litigation partners Francisco Rodriguez and Sandra Millor as well as foreign legal consultant Gilberto Guerrero-Rocca. The former Akerman […]
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BRATISLAVA, June 6 (Reuters) – In September 2020, a North Korean hacking group known as Lazarus broke into a small Slovakian crypto exchange and stole virtual currency worth some $5.4 million. It was one of a string of cyber heists by Lazarus that Washington said were aimed at funding North […]
Ukrainian lawyers, mostly women, are reaching out to legal recruiters in the U.K. seeking work—a very early-days phenomenon that recruiters expect to accelerate over the next few weeks. Several international and domestic law firms, as well as professional service firms, have already committed to taking Ukrainian lawyers on, recruiters say, and they […]
McKinsey & Co. goes to court later this month to convince a federal judge to dismiss a large portion of lawsuits filed over its consulting work for opiate manufacturers—and it’s got the U.S. Chamber of Commerce and nearly a dozen states on its side. McKinsey faces about 100 lawsuits from […]
If you think midsize law firms, regional firms, and boutiques are fighting over the scraps of corporate America’s most valuable matters, you’re the opposite of right. That’s according to a new report from Wolters Kluwer’s LegalView Insights. After analyzing $150 billion in law firm invoices from the company’s e-billing tools, […]
Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. Today, we look at how many new equity partners were minted during Big Law’s best year in a generation. Sign up to receive this column in your inbox on Thursday mornings. In […]
Now that many Big Law firms have matched Cravath, Swaine & Moore’s associate pay scale, announced late last month, numerous recruiters and legal industry leaders wonder what the result of inflated associate compensation will be if demand drops off from an unprecedented 2021. Recruiters and law firm consultants say the […]
Want to get this daily news briefing by email? Here’s the sign-up. WHAT WE’RE WATCHING LACK OF BANDWIDTH – If you thought “come back to the office because we don’t know how to manage you remotely” was poorly received corporate messaging, behold, a new low: “come back to the office because […]
Law firms have a ton of data at their fingertips, but few of them are actually using it to fuel more effective lateral strategies. Using data analytics in talent acquisition and retention is becoming more common, but the so-called moneyball approach hasn’t become mainstream. Industry-watchers say many law firm decision-makers remain skeptical of this method […]
The Major League Baseball Players Association paid $3.5 million in legal fees last year, with Winston & Strawn taking the largest share, as the union sought to resolve a labor dispute threatening the 2022 baseball season. Winston & Strawn, a longtime legal adviser to baseball players and their brethren in […]
Big Law is increasingly adopting a mantra all too familiar in the tech world: grow or die. Instead of only poaching a handful of lawyers from a rival firm, several law firms this year have added lateral groups of more than 10 or 20 lawyers at a time. “If you aren’t moving […]
Back home in North Carolina, he made a “vision board,” or goal board. “Congressman Cawthorn,” it said. Cawthorn’s congressman at the time was Mark Meadows, and he had gotten a part-time job as an assistant in Meadows’ Hendersonville office, starting in January of 2015. He had said during the deposition […]
Former Gibson Dunn & Crutcher managing partner and chairman Ron Beard has died at 83, after a battle with cancer. Beard, who served as firm managing partner from 1991 to 1997 and then chairman from 1991 to 2001 and later became a consultant at the Zeughauser Group, died on April 9. “Ron was kind, […]
The Coca-Cola Co.’s withdrawal of controversial diversity standards for outside lawyers has sparked questions about the future of similar efforts at major corporations. The decision, confirmed by the company on Monday, made waves in the legal industry. It highlights a growing debate over where to draw the line between permissible […]
By Archive Email Hannah Albarazi ” href=”#”>Hannah Albarazi Law360 is providing free access to its coronavirus coverage to make sure all members of the legal community have accurate information in this time of uncertainty and change. Use the form below to sign up for any of our weekly newsletters. Signing […]
Since 2018, law firm partners have billed more hours to corporate legal departments than associates. The rift expanded in 2020, as partner billing jumped 5% to encompass 38% of average CLD billing compared to 30% for associates and maintained in 2021. That’s according to a new Wolters Kluwer LegalView Insights report, which used the company’s e-billing […]
Large law firms were broadly able to boost billing rates by an average of nearly 4% last year while posting their highest realization rates since the Great Recession. And it wouldn’t be surprising if law firms try to raise billing rates just as much or more in 2022, especially as inflation surges, elite […]
As law firms face mounting pressure from the talent wars, many are attaching strings to their partnership agreements in order to protect their partnerships and forestall lateral departures in a high-demand market. Since January, three Am Law 30 firms have incorporated clawback provisions into their partnership agreements that make it […]
Record financial years, a tight talent market and differing philosophies on what it means to be a partner are driving many Big Law firms to promote record partnership classes this year. On Thursday, Mayer Brown announced its largest-ever class of partners and counsel with 65 promotions throughout the firm. Similarly, Willkie Farr […]