Business of Law

  • December 11, 2008

    Dreier Attorneys Have Bull's-Eyes On Their Backs

    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.

  • December 11, 2008

    Howrey LLP Cuts Associates Over Performance Issues

    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.”

  • December 11, 2008

    Troubled Thacher Seeks King & Spalding Takeover

    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.

  • December 10, 2008

    Firms Plan 5% Rate Hike In 2009: Survey

    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.

  • December 9, 2008

    General Counsel To Reduce Reliance On Firms: Survey

    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.

  • December 8, 2008

    Firms' Billing Rates Expected To Slump In 2009

    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.

  • December 8, 2008

    Indictment The Death Knell For Dreier LLP: Experts

    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.

  • December 8, 2008

    12,000 Legal Jobs Cut In Past Year: Labor Dept.

    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.

  • December 5, 2008

    Dreier Founder's Arrest Throws Firm Future Into Doubt

    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.

  • December 5, 2008

    Seyfarth, Dewey Become Latest To Lay Off Attorneys

    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.

  • December 5, 2008

    Boult Cummings, Bradley Arant Ink Jan. 1 Merger

    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.

  • December 5, 2008

    Leaps & Bounds: Notable Firm News

    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.

  • December 5, 2008

    Inflexible Firms Risk Losing Both Clients And Partners

    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.

  • December 4, 2008

    Frost Brown Ties Knot With Locke Reynolds

    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.

  • December 8, 2008

    Companies Lack Uniform Data Collection: Deloitte

    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.

  • December 4, 2008

    Proskauer Trims 35 Associates, 25 Staffers

    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.

  • December 4, 2008

    K&L Gates, Bell Boyd Eye Merger

    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.

  • January 12, 2009

    Litigation Blitz Expected In '09 In Wake Of Recession

    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.

  • December 19, 2008

    E-Discovery Costs, Searches Likely Issues For '09

    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.

  • December 3, 2008

    Reed Smith To Cut 115 US Staff, Up To 11 UK Lawyers

    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.