A newsletter by Reuters and Westlaw |
|
|
By Diana Novak Jones, Mike Scarcella and Sara Merken |
|
|
Law firm profits were bolstered last year in part by strong demand across practice areas, higher billing rates and the expansion of non-equity partner tiers, according to a new analysis of firm financials by the Thomson Reuters Institute and Georgetown Law's Center on Ethics and the Legal Profession. Profits-per-lawyer increased by an average 8% over the previous year following a sluggish 2023, according to the study. Profits-per-equity-partner were up nearly 12% due in part to an increase in non-equity partners. The report is based on financial data through November from 183 U.S.-based large and midsize law firms. But a potential decline in demand — coupled with rising expenses and challenges to the traditional billable hour model spurred by the growing use of generative AI — could chip away at law firm profits this year, our colleague Karen Sloan writes. Law firms this year will need to "navigate a complex landscape shaped by shifting demand and expense dynamics," according to the study. |
|
|
- Jay Bratt, a lead prosecutor on the criminal case accusing Donald Trump of illegally holding onto classified documents, has left the DOJ ahead of the president-elect's return to office. Bratt, a senior national security official, was detailed to Special Counsel Jack Smith's office.
- The national trade association for court stenographers is facing a new lawsuit for allegedly creating an illegal monopoly over professional certification and overcharging its members for dues. Read the complaint.
- Stanley Woodward, an attorney who has defended several of the incoming president's top aides and associates as well as people charged in the Jan. 6, 2021, attack, was named to the White House legal team for Donald Trump's second term.
|
|
|
That's how much three UnitedHealth-owned insurance companies collectively must pay for engaging in widespread deceptive conduct that misled thousands of consumers in Massachusetts into unknowingly buying supplemental health insurance, a state court judge ruled. Massachusetts Attorney General Andrea Campbell said the decision awarded the state the largest civil penalties it has ever recovered under the state's consumer protection law. |
|
|
"The fact that he is a busy person who in the past relied on others is not an excuse for noncompliance."
|
—U.S. District Judge Lewis Liman in Manhattan, finding Rudy Giuliani to be in civil contempt of court in a case brought by two Georgia election workers who successfully sued the former New York City mayor for falsely accusing them of trying to help steal the 2020 U.S. presidential election in favor of Joe Biden. Liman said Giuliani had not complied with requests from the election workers for information that could help them determine which of his assets may be turned over to pay off the defamation judgment. |
|
|
- A 1st Circuit panel will hear arguments in a Becket Fund religious-rights challenge to a Maine state law that the organization said bars most faith-based schools from serving rural families through a tuition assistance program. The organization said Maine was trying to circumvent a U.S. Supreme Court ruling in 2022 that endorsed more public funding of religious entities.
- Joaquín Guzmán López, the son of Joaquin 'El Chapo' Guzmán, is due to appear in federal court in Chicago for a status conference. In July last year, he was detained along with alleged Sinaloa Cartel leader Ismael 'El Mayo' Zambada in Texas. Guzmán has pleaded not guilty to drug trafficking charges.
- New York's highest state court will weigh former New York Governor Andrew Cuomo's challenge to the constitutionality of the state's ethics and lobbying commission. Lower courts ruled for Cuomo, and the state has appealed. Holwell Shuster's Gregory Dubinsky will argue for Cuomo, facing off against Assistant Solicitor General Dustin Brockner.
Court calendars are subject to last-minute docket changes.
|
|
|
- O'Melveny hired David Ni as a partner in the firm's capital markets practice from Sidley Austin. (O'Melveny)
- Cleary Gottlieb added antitrust partner Puja Patel in New York from A&O Shearman. Cleary also brought on corporate partner Mike Taylor in the firm's Abu Dhabi office from Clifford Chance.
- Squire Patton Boggs hired real estate partner Jonathan Brohard in the firm's Phoenix office. He was previously chief operating officer and general counsel at the speciality real estate finance company Lat33 Capital. (Squire Patton Boggs)
- Dentons brought on commercial litigation partner Peter Bekker in New York. Bekker was previously at CMS. (Dentons)
- McDermott added D.C.-based litigation partner Mary Schnoor from Covington and employment partner Tony Torain from Polsinelli.
- Thompson Coburn hired Dallas-based partner Errin Martin as part of its business litigation and white-collar defense practice groups. Martin previously led the national security and cyber section of the U.S. attorney's office in the Northern District of Texas. (Thompson Coburn)
- Bracewell brought on Bryan Clark in Dallas as a partner in the firm's oil and gas and energy transition practice groups. Clark previously was managing associate general counsel at Pioneer Natural Resources. (Bracewell)
>> More moves to share? Please drop us a note at LegalCareerTracker@thomsonreuters.com.
|
|
|
The U.S. Supreme Court was poised to tackle some important and recurring securities issues this term but side-stepped any major decisions by issuing "dismissed as improvidently granted," or DIG orders, in cases involving Facebook and NVIDIA. Skadden's Virginia Milstead and Mark Foster take a look at the implications of the court's silence. Read today's Attorney Analysis. |
|
|
The Daily Docket is sent 5 days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. Reuters Terms & Conditions and Privacy Statement |
|
|
|
0 comentários:
Postar um comentário