Under a new structural adjustment that mirrors similar changes implemented by its competitors years prior, Cravath Swaine & Moore has established a nonequity partnership tier to offer greater flexibility in partnership pay. This move comes with expectations that additional law firms will carry out modifications to their partnership structures and compensation methods in the coming…
The legal firm hierarchy has long been recognized by the significant distinction between equity and non-equity partnerships. An equity partner at a legal firm entails the sharing of firm’s risks and benefits among its partners. However, with time the concept of non-equity partnerships, resembling glorified counsel positions, diluted the traditional structure. Worse still, these non-equity…
The State Bar of California is appealing to the appellate branch of the State Bar Court, seeking a review of a resolution concerning an attorney whose ethics charges were dismissed. These charges stemmed from her tweets in May 2020, in which she purportedly suggested that Black Lives Matter demonstrators should face violence. Details of the…
In today’s era of e-commerce, intellectual property owners often grapple with the task of unmasking the identity of anonymous infringers to halt infringing activities. Successfully unmasking the identity is only part of the battle; finding an appropriate jurisdiction to bring a claim is another challenge as these infringers often have no significant ties to the…
The rapid emergence and evolution of Artificial Intelligence (AI) in corporate and legal realms has necessitated a focus on phenomena known as Shadow AI. The rise of Shadow AI involves the use of AI-related applications by employees or departments within an organization, often without the knowledge or authorization of their respective IT or security groups….
It’s officially bonus season, as leading law firm, Milbank announces its annual year-end bonus scale. This year’s bonus, you’ll be delighted to note, matches last year’s scale for each class. Furthermore, these bonuses will be distributed without any billable hours requirement, a certainly favourable policy for the firm’s associates. However, what’s even more enticing about…
Nine years after the murder of law professor Dan Markel, a jury has rendered a guilty verdict against Charlie Adelson, who was accused of orchestrating the heinous crime. Markel was murdered in his driveway by gunmen Sigfredo Garcia and Luis Rivera in July 2014. Initially, suspicion leaned towards a murder-for-hire plot, as Rivera revealed after…
In a move that reflects growing concern about financial transparency, on October 11, 2023, the FTC issued a Notice of Proposed Rulemaking and Request for Public Comment titled “Trade Regulation Rule on Unfair or Deceptive Fees” (the Proposed Rule). The Federal Trade Commission’s Proposed Rule aims to “prohibit unfair or deceptive practices relating to fees…
The Internal Revenue Service (IRS) has been accused of issuing an excessive number of summonses during the auditing process for a property holding company’s conservation easement. The claim was made by Norcave Properties LLC, which has said they find the summonses should be dismissed due to the lack of discernible purpose, according to the details…
Eastern District of New York judge Eric R. Komitee expressed his displeasure over a press release authored by U.S. Attorney Breon Peace, targeted at Carlos Watson, founder of Ozy Media. Watson was arrested for allegedly misinforming investors about the company’s financial status. Peace’s press release, characterized Watson as a “con man”, running “Ozy as a…
Each year, the Office of Foreign Assets Control (OFAC) in the United States conducts several enforcement actions against companies, financial institutions, and individuals both domestically and internationally. These OFAC enforcement actions potentially pose significant risks, such as the prospect of multi-billion-dollar civil monetary penalties (CMP) in some instances, as reported by Oberheiden P.C. The enforcement…
In a recent shift in the regulatory environment, the U.S. Court of Appeals for the Fifth Circuit (Fifth Circuit) ruled that the U.S. Securities and Exchange Commission (SEC) violated the Administration Procedure Act. This comes in light of the SEC’s adoption of recent amendments to its share repurchase rules, otherwise referred to as the Rule….
On November 1, 2023, industry groups known as the Petitioners lodged a challenge against the recently implemented Private Fund Adviser Rules. The challenge took form of an opening brief in the US Court of Appeals for the Fifth Circuit. This brief presented their legal rationale for seeking to revoke these rules. As reported by JD…
As digital privacy regulations continue to evolve globally, online tracking technologies for behavioral advertising, analytics and related activities face increased scrutiny from authorities in the U.S., Europe and beyond. There is an immediate necessity for legal professionals and big tech organizations to stay apprised of the changing landscape to successfully navigate the complex regulations. The…
This week’s congressional update, provided by BakerHostetler’s Federal Policy team, has been released and is now available for review. The team is dedicated to keeping tabs on the activities within both chambers of Congress, providing valuable insights and updates. These updates are essential for any legal professional needing to keep up-to-date on federal policy changes,…
In an unfolding legal issue much pertinent to the corporate world, a major company has been confronted with a reverse discrimination lawsuit following its decision to fire a white male employee implicated in a dispute with a black female co-worker. Unearthed by Law.com Radar, this case spotlights the escalating complexities of maintaining a balanced working…
Last week’s edition of Legaltech Week made way for a special tribute to a titan of the legal tech journalism world, Monica Bay. As the former editor-in-chief of Law Technology News, she was a well-known and beloved figure within the industry. Unfortunately, Bay passed away last week due to complications arising from a neurological disease….
Noted arbitration attorney, Will Hooker, has recently joined Alston & Bird in a partner capacity. Now part of the firm’s litigation and trial practice group, Mr. Hooker specifically aligns with the international arbitration and dispute resolution team. The news was shared via a recent announcement by the London office where he will be based. Mr….
In a recent decision, the Ninth Circuit in True Health Chiropractic, Inc. v. McKesson Corp. (True Health II), No. 22-15710 (9th Cir. Oct. 25, 2023), has offered an in-depth clarification of the standards for certifying class action lawsuits under the Telephone Consumer Protection Act (TCPA). The court further addressed the determination of whether a violation…
Law360 Pulse has released the 2023 Prestige Leaders – a ranking that highlights law firms recognized for their financial performance, allure to legal professionals, ability to secure accolades, and positive representation in legal news media. Such elements, as measured across the ranking, significantly shape both internal and external reputations of law firms, and go a…
In an era characterized by incessant digital connection and the swift transmission of news, BigLaw firms are heavily reliant on their brand integrity to secure clientele, entice potential recruits, and uphold premium hourly rates. Yet, maintaining a respected reputation in an increasingly interconnected world, where even minor missteps can spread virally, can be overwhelmingly challenging….
Law360 Pulse recently announced the 2023 Prestige Leaders, ranking law firms based on legal industry prestige. These rankings consider four key aspects – firms’ financial performance, how appealing they are to attorneys, awards won, and positive media representation. Together, these elements help to shape their internal and external reputation and demonstrate status in the legal…
In today’s fast-paced, digital society where news can spread rapidly, law firms rely heavily on their reputations to gain clients, attract new recruits, and support high-end hourly rates. As such, maintaining and protecting that reputation is crucial. Renowned law firms, colloquially dubbed ‘BigLaw’, have to be particularly mindful due to their standing and visibility in…
In accordance with its tradition of leading the nation in terms of employee rights and protections, California has ushered in a new era with the addition of further employment-related legislation set to take effect in 2024. This legislation, recently signed into law by Governor Newsom, touches on a wide range of issues that will undoubtedly…
In a recent development, Ugandan President Yoweri Museveni counseled his countrymen not to be excessively anxious about the prospects of Uganda being dropped by US President Joe Biden from the African Growth and Opportunity Act (AGOA). He was assertive in his belief that the growth of Africa is independent and does not hinge on Western…