Legal Book » year

Weathering the Storm

Master — Sat, 04 Feb 2012 08:22:41 +0000

A rising tide may lift all boats, but not all law firms rose with the swells in 2011’s choppy waters. A few California-centric firms saw large gains in revenues or profits in 2011, while at the other end, firms like Orrick and Pillsbury spent the year mostly treading water.

U.K. Moves ‘No Win, No Fee’ Litigation Reforms to 2013

admin — Fri, 03 Feb 2012 05:40:47 +0000

The U.K.’s implementation of “no win, no fee” conditional fee arrangements has been pushed back, from October of this year to April 2013. The U.K. Ministry of Justice said the civil litigation reforms were postponed for six months to allow law firms and legal businesses more time to prepare.Visit International News

So Who Are the Top Legal Contributors to America’s Super PACs?

Master — Thu, 02 Feb 2012 07:40:24 +0000

Prompted by The New York Times’ examination of the top donors to the so-called super PACs making their presence felt in this year’s presidential campaign, The Am Law Daily takes a look at which lawyers and law firms gave the most to these nominally independent entities. Also in the news: A Dozen D.C. Lawyers on Board as Obama Campaign Bundlers

The Am Law 100, the Early Numbers: Kaye Scholer Sees Revenue, Profits Dip

Master — Wed, 01 Feb 2012 07:49:46 +0000

Kaye Scholer saw gross revenue dip 3.4 percent last year, while profits per equity partner slipped 6.4 percent and revenue per lawyer dropped 4 percent. Managing partner Michael Solow said the numbers are in line with targets for revenues and profits per partner, in part due to a strong first half of the year.

The Lateral Report 2012

admin — Wed, 01 Feb 2012 07:49:41 +0000

If 2010 was a year for staying put, 2011 was the year that law firm partners jumped back into the lateral market with full force. During the 12-month period ending Sept

2012 Economic Outlook

admin — Sat, 21 Jan 2012 09:40:24 +0000

Panelists discussed the economic outlook for this year, as well as their expectations for the region’s key business sectors including the real estate recovery, Latin America and gambling in South Florida.

Litigation Department of the Year

Master — Tue, 03 Jan 2012 04:34:24 +0000

After racking up an astounding record of high-stakes victories, Gibson, Dunn & Crutcher beat out 71 other firms for the title of Litigation Department of the Year, winning the prize for the second time in a row.

Law School Transparency hopes the second time’s the charm on data

Master — Fri, 16 Dec 2011 19:14:13 +0000

In 2010, the first time Law School Transparency asked schools to cough up detailed lists of graduate employment data, it didn’t go so well. The organization hopes for better success this year, and sent letters this week to all ABA-accredited law schools asking them to release reports generated by NALP.

Death penalty sentences drop to lowest point since 1976, report finds

Master — Fri, 16 Dec 2011 08:31:37 +0000

The number of death penalty sentences in the U.S. has dropped to the lowest point since capital punishment was reinstated in 1976, according to a new report from the Death Penalty Information Center

Much Ado About Mergers, But Closures Also A Part of 2011

admin — Thu, 15 Dec 2011 20:18:22 +0000

It’s easy to think of 2011 as yet another chapter in a long trend of regional law firm consolidation. While that may be true, the year has also seen its share of law firm failures

GSK Again Loses on Delaware Citizenship Bid

admin — Thu, 15 Dec 2011 07:37:07 +0000

A federal judge has again rejected GlaxoSmithKline’s arguments that its corporate citizenship is different from several plaintiffs in drug products liability cases because it converted to a limited liability company based in Delaware. The judge concluded earlier this year that GSK’s true “nerve center” is in Philadelphia.

Why Howard Rice Changed Its Mind on Merging

admin — Tue, 13 Dec 2011 09:07:03 +0000

This year, Howard Rice finally acknowledged that going it alone wouldn’t lead to the plum deals and cases it still wanted to handle. Its decision to join Washington, D.C.-based Arnold & Porter represents a major departure for Howard Rice, but addresses many of the firm’s most pressing problems.

Cleary Helps Alpha Reach Nonprosecution Agreement for West Virginia Coal Mine Explosion

admin — Wed, 07 Dec 2011 04:04:23 +0000

In a nonprosecution agreement announced by the Justice Department on Tuesday, Alpha Natural Resources agreed to pay $209 million to settle a criminal investigation into a 2010 explosion at a West Virginia coal mine owned by Massey Energy, which Alpha acquired for $7.1 billion earlier this year.

‘Say on Pay’ Compensation Reform Working Better Than Expected

Master — Sat, 03 Dec 2011 06:03:29 +0000

This year marked the first time that shareholders wielded a stamp of approval on executive compensation. But one of the big surprises of 2011 may be just how well corporate America fared in this first test of the new “Say on Pay” system.

Milbank Matches Cravath as Bonus Season Kicks Into High Gear

Master — Thu, 01 Dec 2011 07:37:07 +0000

Thanks in part to a strong financial performance during the first eight months of the year, Milbank told its associates Wednesday they will receive bonuses that match those announced Monday by Cravath. Skadden also told its associates Wednesday they will get bonuses in line with the scale set by Cravath.

In Law Department Spending, Efficiency Trumps Cost

admin — Wed, 30 Nov 2011 08:06:36 +0000

Law departments boosted their budgets for both in-house and outside counsel this year, according to an Altman Weil survey. Although respondents rated cost as more important than efficiency, 60 percent indicated they encouraged collaboration rather than competition among outside firms.

Cravath, First Out of the Gate, Announces Bonuses On Par with 2010

Master — Tue, 29 Nov 2011 08:48:51 +0000

Keeping with its tradition of being first to announce end-of-year bonuses for associates, Cravath, Swaine & Moore said Monday it will distribute cash rewards this year that look a lot like the ones the firm doled out in November 2010, according to a memo released to associates.

Women Dominate New Partner Classes at Cleary, Akin Gump and Wachtell

Master — Thu, 17 Nov 2011 06:51:32 +0000

At several firms this year, women made up the majority of new partners, notes The Careerist’s Vivia Chen. So far, the firms include Cleary Gottlieb Steen & Hamilton (four women out of seven new partners); Akin Gump Strauss Hauer & Feld (five out of eight); and Wachtell, Lipton, Rosen & Katz (two out of three).Visit The Careerist

Lagging Wall Street Bonuses Through the Lens of Public Opinion

admin — Wed, 09 Nov 2011 05:42:30 +0000

A highly anticipated set of projections shows that Wall Street traders and senior management (not including proxy executives) can expect a 20 percent to 30 percent drop in bonus compensation this year — the first such drop since the 2008 financial crisis.

Ethnic diversity improved at law firms in 2011; for women, not so much

admin — Fri, 04 Nov 2011 07:56:47 +0000

The percentage of minority lawyers at major U.S. law firms edged up slightly this year, according to the latest edition of the NALP Directory of Legal Employers.

In-House Views of SEC Regulation, Enforcement, and Reform

admin — Thu, 27 Oct 2011 06:13:45 +0000

At the “SEC Update” session at this year’s Association of Corporate Counsel annual meeting in Denver, Microsoft senior attorney Peter Kraus promised to hit the highlights of the SEC’s new cybersecurity guidance in 30 seconds — and he delivered.

Breyer to Take Senior Status, Opening Another Slot on Bench

Master — Fri, 21 Oct 2011 06:21:58 +0000

Judge Charles Breyer, the behind-the-scenes mover and shaker on the U.S.

Mergermarket Report: S&C Leads in M&A Work After Three Quarters

Master — Sat, 08 Oct 2011 09:02:07 +0000

Advising on M&A deals with a total value of $317.2 billion through the first nine months of 2011, Sullivan & Cromwell leads the ranks of global law firms handling such transactions so far this year, according to a report released Thursday by Mergermarket.

Empire Builders

Master — Wed, 05 Oct 2011 04:59:29 +0000

A historical analysis conducted as part of this year’s Global 100 survey shows that, over the past dozen years, nearly all of the world’s 50 highest-grossing firms have grown rich and global. Is there a connection between the two?

Urge to Merge: Law Firm Tie-Ups Rose Nearly 80 Percent in 2011’s First Three Quarters

Master — Tue, 04 Oct 2011 04:42:58 +0000

Fourteen third-quarter transactions brought the total number of law firm deals so far this year to 43, a 78 percent increase over the relatively small number of mergers that the industry saw in 2010. “It looks like the law firm merger market is back,” Altman Weil principal Ward Bower said, noting there is more activity in the pipeline for the fourth quarter.