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The economic downturn's impact on law firm profits has hit partner promotions in 2024. But it's not all doom and gloom, as the rise in salaries has lessened the desire among associates to own firm equity.
The legal industry had another busy week with more lateral hires, partner promotions, new practice group launches, in-house moves and the passing of a trailblazing former Connecticut Supreme Court chief justice. Test your legal news savvy here with Law360 Pulse's weekly quiz.
Newly formed Pierson Ferdinand LLP announced that with the hiring of 24 new partners over the past month and a half, the firm has added over 150 attorneys since its January launch.
As research continues to show high levels of mental health distress and substance misuse among lawyers compared to the general population, attorney mental health experts on a panel pointed to an inordinate emphasis in the profession on productivity as a particular harm.
Winston & Strawn LLP and attorney Richard Reinthaler lead this week's U.S. Supreme Court-dominated edition of Law360 Legal Lions, after the high court ruled that a corporation's failure to disclose certain information about its future business risks cannot, under certain circumstances, be the basis of a private securities fraud claim.
More than 70 law school deans have criticized the American Bar Association's latest proposal to standardize law school course curricula, calling many of the changes "unnecessary" and counterproductive to legal education goals and part of a larger trend by the ABA council to exercise greater regulatory control over schools.
An attorney for Tully Rinckey PLLC's two founders told a D.C. legal ethics board on Thursday that a proposal to suspend his clients over restrictions the firm placed on departing lawyers was "a totally disproportionate response" to the allegations against them.
Troutman Pepper Hamilton Sanders LLP and Locke Lord LLP are in merger talks to create a combined firm with more than 1,600 attorneys and nearly $1.6 billion in revenue, in what appears to be an effort to lock in both firms' leadership in six industry sectors.
McGuireWoods LLP has hired the former in-house counsel of two Fortune 500 tech companies as a corporate technology and outsourcing team partner in New York, the firm said Thursday.
Morgan Lewis & Bockius LLP has hired a career Covington & Burling LLP attorney, who joins the firm just days after a trio of Crowell & Moring LLP attorneys made the jump to the firm, two of whom are also based in Washington, D.C.
Shook Hardy & Bacon LLP announced Thursday that it has brought on a highly experienced, four-attorney complex litigation team from Carlton Fields that is based in Los Angeles, Miami and Atlanta.
Allen & Overy LLP and Shearman & Sterling LLP said on Thursday that they have appointed a corporate partner based in Dubai as regional managing partner for the Middle East, Turkey and Africa, ahead of their planned merger.
A Florida state judge on Wednesday denied a former Greenberg Traurig LLP partner's request for a cyberstalking injunction against a social media influencer, saying the petitioner did not show enough evidence to justify it.
BigLaw saw a significant uptick in reporting data breaches, while law firms of all sizes continue to be prime targets for cybercriminals, according to data compiled by Law360 Pulse via extensive public record requests.
Crowell & Moring LLP has added two longtime partners and practice group leaders from Chicago-based firm Neal Gerber & Eisenberg LLP to help bolster its corporate, mergers and acquisitions and capital markets services and expand its services in the Windy City.
Cooley LLP has hired a senior Capitol Hill attorney who has spent the majority of her career helping lawmakers and the American public understand complex congressional and national investigations, the firm announced Thursday.
Mintz Levin Cohn Ferris Glovsky and Popeo PC sued parking meter provider Duncan Parking Technologies Inc. and its parent company, CivicSmart Inc., in Massachusetts federal court Tuesday, accusing its former clients of owing $4.3 million in unpaid legal fees and interest for representing CivicSmart in a since-settled patent litigation.
Not even six months into leading the legal department at LegalBillReview.com, Brian Arbetter now understands misconceptions that law firm lawyers have about in-house counsel, and vice versa.
Norton Rose Fulbright announced that it has hired an experienced attorney who has spent the last 20 years with Nossaman LLP as the firm's new co-head of its U.S. and North American infrastructure teams.
Just a month after a longtime White & Case LLP practice leader jumped to Paul Hastings LLP for a leadership role, two more attorneys have made that journey to Paul Hastings' Washington, D.C., office.
After a 31% decline in 2023, lateral law firm movement is expected to dip further in 2024, both at the partner and associate levels, to return closer to prepandemic norms following a period of atypically high movement, according to a new report by Decipher Investigative Intelligence.
Lewis Brisbois Bisgaard & Smith LLP announced Wednesday it has brought aboard a new partner to lead the Denver branch of its national labor and employment practice who has more than 10 years of law firm experience, most recently at Fisher Phillips.
The American Bar Association on Wednesday announced that this year's recipient of its Michael Franck Professional Responsibility Award will be Susan Fortney, a Texas A&M University School of Law professor and ethics expert whose research has earned her international recognition.
Akerman LLP has named a Fort Lauderdale, Florida, partner with nearly three decades and a long history of leadership at the firm to co-chair its bankruptcy and reorganization group.
Loeb & Loeb LLP has announced the latest in a string of corporate hires from Morrison Cohen LLP's ranks, touting two new partners with domestic and international experience with strategic transactions.
Law firms looking to streamline matter management should consider tools that offer both employees and clients real-time access to documents, action items, task assignee information and more, overcoming many of the limitations of project communications via email, says Stephen Weyer at Stites & Harbison.
Series
Ask A Mentor: How Can I Successfully Switch Practices?Associates who pivot into new practice areas may find that along with the excitement of a fresh start comes some apprehension, but certain proactive steps can help tame anxiety and ensure attorneys successfully adapt to unfamiliar subjects, novel internal processes and different client deliverables, say Susan Berson and Hassan Shaikh at Mintz.
Amid demands from clients and prospective hires for greater sustainability efforts, law firms should think beyond reusable mugs and create programs that incorporate clear leadership structures, emission tracking and reduction goals, and frameworks for reporting results, says Gayatri Joshi at the Law Firm Sustainability Network.
Associates may hesitate to take on the added commitment of pro bono matters, but such work has tangible skill-building benefits, so firms should consider compensation and leadership strategies to encourage participation, says Rasmeet Chahil at Lowenstein Sandler.
The pandemic has likely exacerbated the prevalence of problem drinking in the legal profession, making it critical for lawyers and educators to address alcohol abuse and the associated stigma through issue-specific education, supportive assistance and alcohol-free professional events, says Erica Grigg at the Texas Lawyers' Assistance Program.
Opinion
Lawyers Have Duty To Push For Immigration Court ReformAttorneys must use their collective voice to urge federal lawmakers to create an Article I immigration court outside executive branch control, helping address the conflicts of interest, political influence and lack of adjudication consistency that prevent migrants from achieving true justice, say Elia Diaz-Yaeger and Carlos Bollar at the Hispanic National Bar Association.
Based on their own firm's experiences, Kami Quinn and Adam Farra at Gilbert discuss strategies and unique legal industry considerations for law firms planning hybrid models of remote and in-office work in a post-COVID marketplace.
Series
Ask A Mentor: How Can 1st-Year Attys Manage Remote Work?First-year associates can have a hard time building relationships with colleagues, setting boundaries and prioritizing work-life balance in a remote work environment, so they must be sure to lean on their firms' support systems and practice good time management, say Jenny Lee and Christopher Fernandez at Kirkland.
Attorney team leaders have a duty to attend to the mental well-being of their subordinates with intention, thought and candor — starting with ensuring their own mental health is in order, says Liam Montgomery at Williams & Connolly.
As law firms begin planning next year's summer associate events, they should carefully examine how choice of venue, activity, theme, attendees and formality can create feelings of exclusion for minority associates, and consider changing the status quo to create multiculturally inclusive events, says Sharon Jones at Jones Diversity.
Series
Ask A Mentor: How Do I Negotiate Long-Term Flex Work?Though the pandemic has shown the value of remote work, many firms are still reluctant to embrace flexible working arrangements when offices reopen, so attorneys should use several negotiating tactics to secure a long-term remote or hybrid work setup that also protects their potential for career advancement, says Elaine Spector at Harrity & Harrity.
Instead of spending an entire semester on 19th century hunting rights, I wish law schools would facilitate honest discussions about what it’s like to navigate life as an attorney, woman and mother, and offer lessons on business marketing that transcend golf outings and social mixers, says Daphne Delvaux at Gruenberg Law.
Female lawyers belonging to minority groups continue to be paid less and promoted less than their male counterparts, so law firms and corporate legal departments must stop treating women as a monolithic group and create initiatives that address the unique barriers women of color face, say Daphne Turpin Forbes at Microsoft and Linda Chanow at the Institute for Inclusion in the Legal Profession.
Opinion
We Need More Professional Diversity In The Federal JudiciaryWith the current overrepresentation of former corporate lawyers on the federal bench, the Biden administration must prioritize professional diversity in judicial nominations and consider lawyers who have represented workers, consumers and patients, says Navan Ward, president of the American Association for Justice.
Series
Ask A Mentor: How Do I Retire Without Creating Chaos?Retired attorney Vernon Winters explains how lawyers can thoughtfully transition into retirement while protecting their firms’ interests and allaying clients' fears, with varying approaches that turn on the nature of one's practice, client relationships and law firm management.