David Huberman, a former nonequity partner at famed law firm McDermott Will & Emery, has lodged a lawsuit against the firm alleging unpaid salary. The case, filed in Illinois state court, argues for Huberman’s outstanding salary of $104,166.67 which he alleges was secured via a committed overall rise in compensation for U.S. income partners in…
The cryptocurrency industry has had a tough few weeks, with the conviction of FTX founder Sam Bankman-Fried for fraud making the headlines. The fallout from the FTX debacle is far from over, as customers are awaiting the return of their funds and the company’s bankruptcy advisers have sued another crypto exchange for close to $1…
The legal profession is increasingly keeping pace with technological advancements, notably the growing use and reliance on Artificial Intelligence (AI) tools. However, the question that draws attention is whether legal professionals should fully trust and rely on AI tools for their work. Recent developments with OpenAI CEO Sam Altman, highlighted on NPR, raises this very…
Golden Gate Law has formally announced that it will no longer be providing JD programs. Ongoing concerns over high student debt and low pass rates for the bar exam have pointed to this likelihood for some time. The decision has been reached after months of deliberations and reviewing relevant data. The Board of Trustees at…
A month ago, Special Counsel Jack Smith sought to compel Donald Trump to disclose any intentions to claim an advice of counsel defense in the Florida documents case. Smith argued that such a defense would necessitate scrutiny into attorney-client communications, particularly if it was relied upon during the trial. Prosecutors highlighted that, should such a…
O’Melveny & Myers, a law firm that grossed over $1 billion last year and ranks 50th on the AmLaw 100 list, announced significant raises and bonuses for their associates and counsel. The announcement, quaintly made via voicemail by partner Marc Pensabene, revealed a generous raise in the compensation scale across all levels at the firm…
In the world of Biglaw, there isn’t much mystery. Firms must align with peer firms to avoid losing talent. For companies like Akin Gump, compensation isn’t much of a surprise. Comparably, they follow consistent strategies analogous to their namesake character Forrest Gump, who regularly interacts with powerful political figures. Akin does this through its established…
Many Biglaw firms have the habit of waiting until the end of the day to declare changes in compensation, presumably to limit the disruption to their day-to-day productivity. Notwithstanding, this tactic seems to overlook the growing anticipation that can build among associates, persistently refreshing news sites for updates as they await reports of changes at…
Recent developments point to a new dynamic in the legal profession, wherein attorneys based in New York are seemingly making more frequent use of their office spaces as compared to other white-collar professionals in the region. However, it appears law firm occupancy rates in New York are trailing behind cities such as Chicago and Houston….
The National Anti-Corruption Bureau of Ukraine (NABU) and Specialised Anti-Corruption Prosecutor’s Office have accused four judges from the Kyiv Court of Appeal of bribery, with allegations totaling up to $35,000. As reported by NABU, the alleged act of corruption took place on November 28, 2023, when a sum of $35,000 was handed over to one…
As industry observers debate whether the latest round of associate salary increases will indeed extend beyond the realm of elite law firms, historical trends suggest otherwise. Indeed, previous patterns of pay increases paint a picture where numerous law firms, comprising the entirety of the Am Law 100 spectrum, have followed suit and adjusted their compensation…
The shift to remote working sparked by the COVID-19 pandemic has raised numerous legal questions for employers, not least of which is the issue of reimbursing employees for home office expenses. Both large global corporations and small businesses find themselves in uncharted territory, grappling with issues they’ve never before considered. A case in point arises…
In a recent legal development, a California federal court has approved an agreement effectively concluding a trade secrets lawsuit initiated by scooter company Lime against Hertz. The claims alleged that Hertz had knowledge of its freshly inducted engineer utilizing Lime’s confidential information to develop a new application. The terms of the agreement remain undisclosed at…
As we approach the tail end of the year, it’s necessary to turn our attention towards key legal updates that may affect our corporate operations in the near future. One such development that demands our consideration is the recent changes in the Corporate Transparency Act (CTA). In the ever-evolving world of the CTA, we find…
The first half of 2023 has proven itself to be a year of significant developments within the realm of the Fair Credit Reporting Act (FCRA). Decisions of notable weight have surfaced from multiple sectors of the legal field, spanning from federal courts of appeals to regulatory agencies. In a comprehensive article recently published in Law360…
The European Union has been hard at work, seemingly modeling their AI Act after the EU’s influential General Data Protection Regulation (GDPR). The legislation proposes a comprehensive set of rules and regulations for AI systems and reflects the EU’s intent to lead in the realm of AI regulation. However, questions about the viability of the…
In an effort to bolster cybersecurity measures within the healthcare sector, New York Governor, Kathy Hochul, recently announced impending cybersecurity regulations specifically targeted at New York hospitals. The proposed rules are due to be published in the State Register on December 6, 2023, subject to approval by the Public Health and Health Planning Council, as…
The Financial Crimes Enforcement Network (“FinCEN”) has recently made a modification to the reporting obligations under the Corporate Transparency Act (“CTA”) for reporting companies that were formed in 2024. The significant alteration includes the elongation of the reporting deadline for beneficial ownership information (“BOI”) from 30 days to 90 days from the formation date for…
On Tuesday, Kenya’s High Court declared a 1.5 percent levy, introduced to fund affordable housing, unconstitutional. The levy was a provision of the Finance Act 2023, which faced legal challenges earlier this summer amidst mass demonstrations against the cost of living crisis in the country. Further details of the situation were reported by jurist.org. The…
On November 28, 2023, the UK’s Financial Conduct Authority (FCA) issued its “Sustainability Disclosure Requirements (SDR) and investment labels” policy statement (PS23/16). This policy statement introduces a new set of rules designed to combat greenwashing. The policy statement predominantly revolves around the introduction of investment product sustainability labels and guidelines on utilisation of terms such…
Cynthia Nance, who took on the role of interim dean of the University of Arkansas (Fayetteville) School of Law in July 2022, has been appointed as the permanent dean. Nance will hold this position through June 2026, adding four more years to her previous five-year tenure as dean from 2006 to 2011. This information is…
In an increasingly uncertain financial climate, the evolving landscape of creditor’s rights poses unique challenges to corporations and law firms alike. Navigating these treacherous waters can be particularly daunting when dealing with distressed customers. A recent article outlined by Troutman Pepper as part of their Creditor’s Rights Toolkit series, provides practical insights to address these…
On November 16, the Committee on Professional Responsibility and Conduct for the State Bar of California delivered preliminary guidance concerning the employment of generative Artificial Intelligence (AI) by legal practitioners. Although the AI legal ethical guidelines are in their nascent stage, they hold potential for shaping sector-wide practices, addressing vital aspects such as confidentiality, supervision…
Recent years have seen an escalating acknowledgement of the narratives of indigenous populations within the legal landscape. A vivid illustration of this transition has been provided by experienced film director, Martin Scorsese, who reshaped the script of “Killers of the Flower Moon,” a tragic narrative of mass murder and exploitation of Osage Native Americans. This…
The legal landscape continues to evolve, with ethics becoming not just a standard, but a prerequisite for corporations worldwide. Recognizing this, many employers are doubling down on their efforts to establish ethical HR practices within their organizations, as noted in an article by Ius Laboris. This change is seen as not just necessary, but vital,…