Milbank has initiated the year-end bonus announcements for 2024, revealing bonuses ranging from $15,000 to $115,000 depending on class year, in addition to special bonuses announced in August. This development places pressure on other major firms to match Milbank’s comprehensive compensation strategy. Among the specific figures, first-year associates are set to receive a total of…
Proskauer Rose LLP has bolstered its Paris office by welcoming an eight-lawyer fund formation team from Simmons & Simmons. This team transition includes partners Agnès Rossi and Marcela Moraru along with six associates. The move is expected to significantly enhance Proskauer’s capabilities in fund formation within the Paris market. For more details, you may refer…
In what has become an annual event keenly watched by peers and industry insiders alike, Milbank LLP has once again set the tone for Big Law’s bonus season by announcing its year-end bonuses earlier than its competitors. The esteemed Wall Street law firm revealed that bonuses will range up to a substantial $115,000 for their…
The French Cour de cassation has ruled against a claim filed by alleged Filipino descendants of a 19th-century sultanate seeking $15 billion from Malaysia, citing the lack of authority of a Spanish arbitrator who had moved the case to France. This ruling signifies a substantial setback for the claimants backed by the litigation funder Therium,…
In a recent legal development, the Moroccan Rabat Court of First Instance has sentenced journalist Hamid El Mahdaoui, the editor-in-chief of the Badil news outlet, to 18 months in prison for charges of defamation against the Moroccan Justice Minister Abdellatif Ouahbi. The court also ordered Mahdaoui to pay a civil compensation of approximately USD $150,000…
In a significant development for associates across major law firms, Milbank has once again set the pace in the associate bonus race by being the first to announce their year-end bonuses. This move follows their earlier decision to offer market-leading summer bonuses, keeping the firm at the forefront of compensation leadership in the legal industry….
Charles Russell Speechlys, a London-based international law firm specializing in private capital, is strengthening its presence in Latin America amidst growing demand for wealth and tax planning services. The region’s shift to the political left has prompted many affluent individuals to seek secure jurisdictions for their assets. As a result, there is increasing interest in…
The Eighth Circuit Court of Appeals recently reversed an $11.75 million verdict in a lawsuit concerning liquor distribution, highlighting significant issues with jury instructions that failed to adequately define the community of interest requirement. The appeals court determined that this oversight amounted to a prejudicial error, impacting all claims presented to the jury. For detailed…
In the aftermath of the recent election results, many lawyers find themselves grappling with the outcomes. Despite the significant emotional impact felt by legal professionals, a noticeable silence persists among firm leaders regarding any public commentary on the matter. This sentiment was encapsulated by Katherine Wilson, co-founder of Fractional CMO, who highlighted the reluctance of…
Gowling WLG’s Ottawa office has recently bolstered its commercial lending practice by appointing Kim Walker as a partner. Walker transitions from her previous position as the former director of legal at the Canada Deposit Insurance Corporation (CDIC), an agency responsible for insuring deposits at numerous major Canadian financial institutions. Her arrival at the firm is…
The Committee to Protect Journalists (CPJ) has urged Ethiopian authorities to bolster press freedoms ahead of the United Nations’ Universal Periodic Review (UPR). In a detailed report, CPJ highlighted the serious challenges faced by journalists in Ethiopia over the past five years. These include arbitrary arrests, physical attacks, and restrictive legal measures. The report is…
Bird & Bird has strategically expanded its reach by acquiring partners from DLA Piper in Sydney and Clifford Chance in London. Nicholas Boyle has joined Bird & Bird’s technology practice in Sydney after a five-year tenure at DLA Piper, where he was a technology and cyber partner. Boyle’s expertise includes technology, data protection, M&A, and…
The FTX estate, embroiled in its ongoing bankruptcy proceedings in the Delaware Bankruptcy Court, is fervently seeking to recover substantial funds allegedly mishandled during the turbulence leading to FTX’s financial collapse. Among the myriad actions taken, FTX is attempting to claw back $1.76 billion from Binance, a contentious move highlighting the fallout from Binance’s previous…
Winston & Strawn, representing NBA Hall of Famer Michael Jordan’s stock car race team, has announced plans to appeal a federal court ruling regarding their antitrust lawsuit against NASCAR. The lawsuit, spearheaded by attorney Jeffrey L. Kessler, claims NASCAR is monopolizing the U.S. stock car racing market by coercing teams into signing contracts that allegedly…
Portal Crypto Exchange is currently embroiled in a legal controversy as a class action lawsuit has been filed against the company in Delaware. The lawsuit alleges that the exchange misled investors about the usage of their funds. According to Eric Rosen, a partner at Dynamis, the investors claim they were coerced into signing conversions under…
As Congress convenes for a five-week post-election lame duck session starting on November 12, key legislative priorities are expected to be the focal point. During this timeframe, Congress will also conduct new-member orientations, arrange its agenda for the upcoming year, and carry out leadership elections. Attorneys from Greenberg Traurig offer insights into which legislative proposals…
Legal News Summary In a candid reflection on his career journey, Ryan Ulloa of White & Case shares insights into the attributes needed to make partner at a major firm. Emphasizing the importance of adaptability and openness, Ulloa speaks to the value of engaging with unfamiliar areas and collaborating with new colleagues. His own rise…
In a new development within the legal industry, it has been revealed that Herbert Smith Freehills and Kramer Levin are poised to merge, forming a fresh entity to be known as Herbert Smith Freehills Kramer. This merger marks one of the industry’s significant transatlantic collaborations, aligning the strengths of the two firms into a single,…
The movement for paid sick leave is gaining traction nationwide, reaching even traditionally Republican states. Recently, Alaska, Missouri, and Nebraska passed ballot measures mandating paid sick leave by considerable margins. Josh Seidman, a partner at Seyfarth Shaw, emphasized the bipartisan nature of this shift, noting that such measures reflect a “benefit that enough constituents” in…
The legal landscape is poised for significant change as two prominent law firms, Kramer Levin and Herbert Smith Freehills, announce plans to merge. The combined entity will operate under the name Herbert Smith Freehills Kramer, with its U.S. operations branded as HSF Kramer. This merger is set to foster a fully integrated organization, aligning both…
Herbert Smith Freehills LLP has announced a significant merger with the U.S-based law firm Kramer Levin, a strategic move that positions the combined entity as a substantial player on the global legal stage. This merger is seen as a potential harbinger for further amalgamations within the legal sector, suggesting a continuing trend of consolidation in…
In a significant upcoming appearance at the U.S. Supreme Court, two former BigLaw partners and a former litigator from the Consumer Financial Protection Bureau will present arguments in a case with potential implications for the pleading standards applicable to shareholder litigation against companies such as Nvidia Corp. This legal battle is poised to shape the…
In a pivotal ruling, a California federal judge has dismissed legal claims against Mark Zuckerberg in a multidistrict litigation case that accused Meta of concealing the risks of social media to young users. The court found that the plaintiffs did not sufficiently demonstrate that Zuckerberg either directly participated in or authorized the alleged concealment, despite…
In a significant development in the legal industry, Herbert Smith Freehills and Kramer Levin Naftalis & Frankel are poised to merge, potentially creating one of the 20 largest law firms globally. The merger is expected to result in a combined revenue exceeding $2 billion, a figure that would place the merged entity among the top…
In a significant move aligning with trends in other jurisdictions, the Massachusetts Supreme Judicial Court has revised its long-standing approach to the disposition of engagement rings following a broken engagement. The court determined that a $70,000 engagement ring must be returned to the donor irrespective of who is at fault for the relationship’s end. This…