Welcome to another important update for the legal fraternity as the headlines explore contemporary law trends and big moves made by some established entities in the sphere.
A groundbreaking project known as the Alternative Business Structures (ABS) program was launched in Arizona three years ago, a program that enables non-lawyers to own law firms and legal businesses. The innovative program has caught the attention of Wall Street with about 40% of the ABS endeavors supported by private equity or hedge funds, as revealed by one committee member associated with the program. The substantial backing by these well-regulated entities is a sign of solid trust in the undertaking. For more detailed insights regarding the same, do check out this well-researched article at the Wall Street Journal.
In another significant legal development, Squire Patton Boggs faces a lawsuit for allegedly defaulting on rent for its former Moscow office. This office was closed following Russia’s invasion of Ukraine in 2022. A Dutch developer asserts that the firm owes $138,000 plus interest. The complete story is reported by Reuters.
In a surprising crossover, Edelson PC welcomed Bob Wiltfong, a renowned Daily Show correspondent, as its new director of communication and impact. Wiltfong’s appointment aims at driving firm PR and offering content to Edelson Creative, a creative subsidiary of Edelson PC. They are known to create entertaining content, including Disney spoofs related to class actions, portraying legal affairs in a light-hearted yet informative way. See the full story on Above The Law.
In laterals and moves, Hinshaw & Culbertson welcomed James Ferrara, a former circuit court judge, as a partner in their Florida-based business litigation practice. Meanwhile, Simpson Thacher’s London office was reinforced with the presence of Paul Hibbert and Emma Serginson as new partners. Details of these are available in respective individual articles, which deserve a read for a granular understanding of these moves.
All the aforementioned events reflect the dynamism in the global legal arena, noting crucial shifts and crossover trends that influence the future course of the legal industry.