Amid the near-daily announcements of BigLaw firms and boutiques clamoring to match the new market scale for associate salaries unveiled in June, several law firms are exploring ways to augment their offerings to young attorneys in ways that cannot be measured in dollars and cents.
The American Bar Association reduced its executive director's pay from $1.25 million in 2015 to $1.17 million in 2016, documents made public Friday show, but Law360 has learned that a bigger pay cut for the executive is in the works as the organization grapples with declining membership and dues revenue, as well as layoffs.
As law firm managers look ahead to the second half of 2018, their overall confidence in both the U.S. and global economies has taken a modest dip, although faith in their firms' performance is as strong as ever, according to a survey released Thursday by Citi Private Bank.
The law firms on Law360’s Global 20 ranking have a broad reach that spans the globe. With offices and attorneys standing ready to deftly handle complex challenges, these firms take on everything from high-stakes transactions to legal brawls that play out on multiple fronts.
For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.
Slater & Gordon (UK) LLP has been fined £80,000 ($105,671) by The Solicitors Regulation Authority for inspecting and sharing unredacted confidential information and documents of 7,087 client matters of Quindell Legal Services Ltd. without the firm’s knowledge, according to a decision that was published Friday.
The two law firms were among those that recently said they are making compensation changes for U.S. associates, according to internal memos made public Friday.
The end of the U.S. Supreme Court's term this week was filled with fireworks. The high court upheld President Donald Trump's travel ban and dealt a significant blow to public-sector organized labor, and then Justice Anthony Kennedy capped it all off by announcing his retirement, sparking a dizzying debate over both his legacy and his replacement. We'll tackle it all on this week's podcast.
President Donald Trump said Friday he will announce his nominee to take Justice Anthony Kennedy’s place on the U.S. Supreme Court on July 9, and that he has narrowed down the pool of candidates to “around” five people, including two women.
Baker McKenzie has created a new director position aimed at streamlining its delivery of legal services, and it hired former Archer Daniels Midland Co. legal operations director David Cambria to fill the role, the firm said Friday.
A Miami landlord has filed suit in Florida state court against Sedgwick LLP, one of three complaints filed in recent months alleging that the now-shuttered firm defaulted on its lease termination agreements when it closed up shop earlier this year.
Among the U.S. Supreme Court's list of decisions this week, the justices ruled that unions can't require government workers to pay fees and upheld President Donald Trump's travel ban. Also this week, the president began his search to replace the retiring Associate Justice Anthony Kennedy, who said he will step down from the bench on July 31. These are some of the stories you may have missed in the past seven days.
Latham & Watkins LLP said Friday it will be led by London partner Richard Trobman effective immediately, following a months-long succession process kicked off by the sudden resignation of previous chair and managing partner Bill Voge.
The owner of the building that housed Sedgwick LLP’s New York financial district office said the now-defunct law firm missed a payment related to the early termination of its lease and, as a result of the breach of contract, owes $23 million, according to a suit filed in state court just days after the landlords of its Chicago office made similar claims.
A Vinson & Elkins LLP partner was hit with an arrest warrant earlier this month over his alleged role piloting a boat that crashed in Travis County, Texas, injuring three of his fellow partners, according to documents filed in state court, though the warrant has reportedly since been rescinded.
Associate Justice Anthony Kennedy spent his three decades on the high court making a name for himself as a champion of individual freedoms, but he also authored the majority opinion in Ashcroft v. Iqbal that changed corporate litigation so much, it is cited in nearly every dismissal bid and has become the bane of the plaintiffs bar.
The retirement of Justice Anthony Kennedy means that Chief Justice John Roberts is now the U.S. Supreme Court's most important member not just in title but also in reality, empowering him to advance a muscular conservative agenda and perhaps broker deals with outgunned liberals.
Cadwalader Wickersham & Taft LLP, Paul Hastings LLP and Thompson & Knight LLP were among the firms that said they would be joining the trend of hiking salaries and offering mid-year bonuses for associates, according to internal memos made public on Thursday.
Williams & Connolly LLP partner Kannon Shanmugam landed on the legal lions list after the U.S. Supreme Court granted review on three of his cases during the past week, while attorneys at Haynes and Boone and Skadden ended up legal lambs after a judge slashed client ZeniMax’s $500 million intellectual property verdict in half.
The Senate Judiciary Committee advanced several district court picks on Thursday, even as Sen. Jeff Flake, R-Ariz., has continued to stonewall advancing nominees for the Third and Eleventh circuits until the chamber votes on a tariff measure.
High-ranking Republicans on the Senate Judiciary Committee stood firm Thursday on keeping Majority Leader Mitch McConnell's promise to vote this fall on a replacement for retiring U.S. Supreme Court Justice Anthony Kennedy, with one saying Democrats' calls to wait until after the November midterms "ain't going to happen."
Foley Hoag LLP has announced that it is implementing a new parental leave policy that offers up to 18 weeks off in the 12 months after the birth or adoption of a child for all parents, regardless of whether they are the primary caregiver or not.
In response to the administration's zero-tolerance and family separation policies, BigLaw firms across the country are partnering with each other and a constellation of nonprofits to provide pro bono legal aid to parents and children seeking to be reunited and be granted asylum.
In his three decades on the high court, Justice Anthony Kennedy authored opinions that changed the rules for federal civil litigation, opened the floodgates for corporations and unions to fund campaign advertisements, and reshaped the legal landscape for women and same-sex couples.
The 2018 Law360 Diversity Snapshot shows only incremental progress on racial and ethnic diversity in the attorney workforce. At every level of a typical law firm, minority attorney representation increased by less than a percentage point from last year’s survey.
Women have made up over 40 percent of law school students for more than three decades, and they now make up more than half. But our annual survey of the largest U.S. law firms shows that women continue to be underrepresented at all levels.
As the #MeToo movement sweeps the nation, the legal industry is starting to respond: Law firms are reviewing sexual harassment policies, fostering more internal discussion, and, in some cases, getting rid of arbitration agreements that have gained a reputation for perpetuating the problem.
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.
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.
In his new book, "Without Precedent: Chief Justice John Marshall and His Times," professor Joel Richard Paul ably explains more than a dozen of Marshall’s most significant opinions, which comes as no surprise. What is a surprise — a pleasant one — is the book's readability, says Judge Thomas Hardiman of the Third Circuit.
For law firms structured as corporations, a lower maximum corporate tax rate and repeal of the corporate alternative minimum tax are good news. But many law firms are pass-through entities, so deduction limitations mean they'll see less benefit from the new tax law, says Evan Morgan of CPA and advisory firm Kaufman Rossin PA.
Since passage of the Trump tax plan last year, companies have been touting bonuses they’ve handed down to rank-and-file employees. This highlights the trend of employers favoring bonuses over pay raises in the belief that variable, short-term rewards are less risky to the business than permanent increases in labor costs. But law firms have used this strategy for years — and there are dangers, says Michael Moradzadeh of Rimon PC.
Over the past few years, forward-thinking law firms have expanded their talent pools to include a chief innovation officer, whose responsibilities include spearheading the implementation of technology. It is a smart move, says Mark Williamson, co-founder and chief technology officer at Hanzo Archives Ltd.
Just last month, a number of legal groups asked the Northern District of California to strike its rule requiring that, before seeking federal court admission, attorneys first be licensed by the state of California. It is irrational to exclude seasoned federal practitioners from general admission due to state bar approval while allowing raw state lawyers who have never been inside a federal courtroom, says attorney EJ Hurst.
There's no reason for limiting unbundled legal services to family law or even pro se litigants. Wider adoption, especially by litigators, presents an opportunity to correct law's distribution and pricing problem, to make justice practically available to all, and to dethrone litigation as the "sport of kings," says New York-based trial lawyer David Wallace.
Like medical professionals, lawyers often resist policies to reduce errors due to the culture of perfectionism that permeates the industry. Autonomy is key to the legal professional's prestige and the outward demonstration of competence is key to maintaining autonomy, says Peter Norman of Winnieware LLC.
It is undisputed that in his first year in office President Trump was able to confirm a significant number of judges to the federal bench. How it happened — and whether it's a good thing — are debated here by Sen. Chuck Grassley, R-Iowa, and Sen. Dianne Feinstein, D-Calif.