BigLaw’s brass ring has grown more elusive in recent years, Law360 data shows, and experts say a number of potentially market-changing forces may be at work.
Andrews Kurth Kenyon saw a more than 12 percent drop in headcount in the year before its February merger with Hunton & Williams — a story experts expect to become familiar for regional firms in Texas.
Lathrop Gage lost more than 15 percent of its attorneys in 2017. Can a new managing partner help bolster its headcount?
De-equitized partners. Contracting offices. Declining headcount. The leaders of Stroock & Stroock & Lavan say it’s all part of the plan — a plan that’s already paying dividends.
When pursuing financial fraud cases, the goal is simple –– put together the most straightforward case against the richest person involved –– and Monday at a gathering of international finance service providers on Miami Beach, experts revealed some tips and tricks of the trade for achieving it.
The trial of a former UBS trader accused of spoofing in the precious metals futures market teed off in New Haven federal court on Monday, with federal prosecutors painting him as a fraudster while his attorneys slammed the government’s case as “fool’s gold.”
Goldman Sachs asked the Second Circuit Friday to review a New York federal judge’s partial class certification of female associates and executives who accuse the banking giant of systematic gender bias, saying it turned a U.S. Supreme Court decision “on its head."
U.S. District Judge Federico Moreno recused himself Monday from a law student’s suit against Barclays Bank Delaware over a credit card dispute, but not before he took a parting shot at the student and threatened to report him to the Florida Bar and the University of Miami School of Law for “lack of truthfulness” before the court.
The U.S. Securities and Exchange Commission told the U.S. Supreme Court on Monday that the remedy in a high-profile challenge to the Wall Street regulator’s in-house judges is to remand the case of a former investment adviser to the agency to be reheard before a judge who can be legally removed by the agency’s chair.
Federal authorities unsealed a three-count indictment in a New York federal court Monday accusing Blake Kantor, also known as Bill Gordon, of defrauding investors out of approximately $2.1 million through his binary options company and a worthless cryptocurrency, and later lying to federal investigators to cover his tracks.
Prosecutors failed to nail down either conspiracies or crimes during the first five weeks of a federal trial in Delaware for four Wilmington Trust Corp. executives accused of hiding mounting past-due loans, defense attorneys said during acquittal arguments Monday.
The U.S. Securities and Exchange Commission this week is set to unveil a long-awaited plan to hold brokers to a higher standard of care when dealing with mom-and-pop investors, but it remains to be seen if the agency’s efforts will please those who’ve been waiting years for it to act. As a vote on the plan approaches, here are some of the questions industry experts have.
The liquidating trustee for Stillwater Asset Backed Offshore Fund Ltd. asked the Second Circuit on Monday to undo lower court rulings that the foreclosure of a Georgia property Stillwater had an interest in after the fund filed for bankruptcy was not subject to an automatic stay.
Morgan Stanley is reportedly taking another roughly 50,000 square feet at Willis Tower in Chicago, Bank of America is said to have upped its loans at two Florida multifamily properties, and Sioni Group is reportedly buying an office building in New York from a JPMorgan Chase venture for roughly $105 million.
President Donald Trump has picked the co-chair of the futures and derivatives practice at WilmerHale to serve on the U.S. Commodity Futures Trading Commission, the White House announced Monday.
The former managing partner of Freshfields Bruckhaus Deringer LLP’s Paris office has made the jump to Jones Day, bolstering the firm’s global disputes practice in Europe with his background in handling litigation and arbitration in a variety of industries, including banking, energy, life sciences, transportation, media and telecom and construction.
Crédit Agricole Corporate and Investment Bank urged a Florida federal court on Friday to deny a preemptive bid by two Brazilian nationals and their companies to stop an arbitrator from awarding the French bank attorneys' fees in a dispute relating to more than $9 million in soured offshore investments.
Bank of America on Friday petitioned the Ninth Circuit for an en banc review of a panel decision finding that the National Bank Act does not preempt a California state escrow interest law, saying the decision constitutes a “drastic change in the law.”
Former Barclays PLC and Deutsche Bank AG traders accused of conspiracy to defraud left their “moral compass” at the door when they took part in an alleged plot to rig benchmark interest rates, prosecutors for Britain’s Serious Fraud Office said at a London court Monday.
The annual Law360 400 ranks the largest U.S.-based law firms and vereins with a U.S. component by domestic attorney headcount.
Credit unions have seen a wave of litigation claiming their websites are inaccessible to blind or low-vision plaintiffs, allegedly in violation of the Americans with Disabilities Act. While two credit unions recently succeeded in defending against such claims, it does not appear they are going away anytime soon, says Nancy Rigby of Weinberg Wheeler Hudgins Gunn & Dial LLC.
Despite the Trump administration's desire to shut down the Legal Services Corp., thankfully the budget that Congress passed and the president signed into law last week has restored $410 million of funding to the legal aid organization. An unlikely brief for preserving LSC may be found in the quirky Denzel Washington film "Roman J. Israel, Esq.," says Kevin Curnin, immediate past president of the Association of Pro Bono Counsel.
Over the last few years, there has been a significant increase in litigation and investigations related to corporate social responsibility issues. Activity has increased not only in the United States at the federal, state and local level, but also in several other countries. Proceedings and investigations have involved many different statutes and theories of liability, say attorneys with Ropes & Gray LLP.
Contrary to the hyperbole advanced by the defense bar, state courts are not flooded with frivolous securities lawsuits. And if there is a spike after the U.S. Supreme Court’s decision in Cyan v. Beaver County, there are likely other factors to blame, says Adam Pulver of the Public Citizen Litigation Group.
In order to enable lawyers to best meet cybersecurity challenges, state bars should pass rules that adopt a cybersecurity framework to be developed by a national committee, says Shaun Jamison, associate dean of faculty and professor at Purdue University's Concord Law School.
As the quantity and quality of corporate social responsibility disclosure increases, there is also movement toward greater comparability. Larger companies should benchmark their disclosures against global peers and evolving global standards, since over time, enhancements in foreign disclosure practices are likely to drive disclosures by many U.S. companies, say attorneys with Ropes & Gray LLP.
The U.S. Supreme Court's clear signal in Cyan v. Beaver County that Section 11 claims filed in state court can remain in state court causes the litigation chess game to evolve to a new phase. A reasonable hypothesis is that Section 11 filings in state court will increase nationwide and not just in California, say members of Stanford Law School and Cornerstone Research.
To many young attorneys, becoming an equity partner shows a firm's long-term commitment, meaning job security and a voice in important firm matters. However, the industry has changed and nowadays it may not be better to enter a new firm as an equity partner, says Jeffrey Liebster of Major Lindsey & Africa.
Two landmark anti-money laundering rules — the federal beneficial ownership rule and New York’s transaction monitoring rule — have compliance deadlines coming up in the next few weeks. A variety of events may impact a financial institution’s ability to comply, says Walter Mix of Berkeley Research Group.
Increasingly, corporate social responsibility must be on the radar screen of in-house counsel. Investors are paying more attention to environmental, social and governance issues, and a growing number of shareholder proposals on these subjects should be expected, say attorneys with Ropes & Gray LLP.