The nation’s largest law firms have begun to take notice of the potential for profit in the rapidly growing legalized marijuana industry, with many predicting increased lateral partner hiring in the space as a result.
The 2017 Law360 Diversity Snapshot shows that law firms have stagnated in their drive to diversify their attorney workforce. At every level of a typical law firm, minority attorney representation grew by less than a percentage point from last year’s survey.
Chadbourne & Parke LLP told a New York federal judge Friday that female lawyers suing the firm for gender discrimination are attempting to improperly downplay the breadth of changes they made to certain allegations that were added in their latest complaint, saying that those alterations go beyond the limited changes authorized by the court.
Patterson Thuente IP has fired a partner from its Minneapolis office after a local news publication described him as being connected to a record label that pushed fascist and neo-Nazi-leaning heavy metal bands, Law360 confirmed on Monday.
As more details surface about the purported financial shenanigans of Marc S. Dreier, the attorneys connected to his namesake firm could be in hot water as clients demand retribution and answers on how their funds could be missing.
Howrey LLP has let go of approximately 10 associates, adding to the pool of unemployed lawyers nationwide competing for new jobs. The firm said these were not layoffs but “outplacements.”
Thacher Proffitt & Wood LLP is reportedly scrambling to avoid dissolution by reaching out to King & Spalding LLP about the possibility of taking over most of the struggling firm.
Law firms are planning to increase their standard billing rates in 2009, but the expected hike of just about 5 percent will be considerably smaller than in prior years, according to a survey by Wachovia Corp.'s legal specialty group.
General counsel have announced their plans for legal spending in 2009, and law firms will have to change the way they do business if they want to stay in the game and retain their clients, according to industry insiders.
About a year ago, almost 71 percent of law firms decided to hike their billing rates for 2008, according to a new survey. In light of the economic crisis that has since set in, however, firms are far more likely to apply small increases limited to particular practices, and provide discounts to certain clients in 2009, experts say.
With Marc Dreier's legal troubles mounting by the second, the fallout from the founder and sole equity partner's alleged financial misdeeds will be swift and devastating for his New York-based namesake firm, according to legal experts.
The economic downturn has resulted in the loss of nearly 12,000 jobs in the legal services industry in the past year, according to statistics released by the U.S. Department of Labor.
Igniting rumors of gross financial misdeeds, the increasingly bizarre details emerging from the arrest in Toronto of Dreier LLP founder and managing partner Marc S. Dreier have put the survival of the 250-lawyer firm into question.
In what is shaping up to be another tough month for law firms, Seyfarth Shaw LLP laid off about 30 attorneys and other staff members Friday, a day after Dewey & LeBoeuf LLP let go 11 structured finance associates in New York and one in Los Angeles.
Boult Cummings Conners & Berry PLC announced Thursday that it would join forces with Bradley Arant Rose & White LLP to create a new firm with 350 attorneys and seven offices in the Southeast after negotiation talks between the firms reportedly fell apart last year.
With no spectacular swipes from dissolved firms Heller and Thelen, lateral movement slowed over the past two weeks. But plenty of partners, particularly those in intellectual property and bankruptcy, spent their holiday jumping firms.
The economic crunch has prompted many clients to ask their lawyers for discounted rates or alternative billing structures. Firms that don't respond risk losing both clients and partners, experts say.
Frost Brown Todd LLC is combining with Locke Reynolds LLP, one of the largest firms based in Indiana, to create a firm of more than 450 attorneys across five states.
The development of internal blogs and other fast-moving types of corporate communications means companies need a standardized method of preserving the data necessary in litigation proceedings, but up to a third of companies responding to a survey released last week by Deloitte Financial Advisory Services LLP don't have them.
Proskauer Rose LLP reportedly announced Thursday that it was laying off 35 associates and about 25 administrative staff members across its offices, becoming the latest of many law firms to cut staff in the face of the economic downturn.
K&L Gates LLP and Bell Boyd & Lloyd LLP announced Thursday that they are in talks to merge, a move that would create a firm with about 2,000 lawyers on three continents.
The nation's economy may be in tatters, but lawyers have lots to celebrate: After several years of sluggishness, things are finally about to perk up in the legal world, according to the 2009 edition of the Law360 Litigation Almanac.
Electronic discovery has quickly become a fact of life for businesses in the past two years. While companies are taking proactive steps to track and sort their masses of data, however, attorneys and consultants continue to look to the courts for opinions on how to keep litigation costs from soaring and how to negotiate search terms, among other issues.
Reed Smith LLP on Wednesday became the latest firm to announce significant layoffs, saying that it plans to ax 115 support staff in its U.S. offices and up to 11 associates in the U.K.