Stroock & Stroock & Lavan has said it continues to talk with other law firms about a possible merger after 27 of its lawyers left for Steptoe & Johnson.
A merger isn’t out of the question for Stroock & Stroock & Lavan, even though it has ended talks about the possibility with Nixon Peabody. “Our discussions with Nixon Peabody were never exclusive,” Stoock announced in a statement.
Demand for legal services is down slightly, while lawyer head count is increasing—a combination that is resulting in a decline in average billable hours, according to a survey of BigLaw firms by Wells Fargo’s Legal Specialty Group.
Legal technology companies vLex and Fastcase say their newly announced merger will hasten the development of legal artificial intelligence tools through a global law library that draws on more than 1 billion legal documents.
The legal services sector added 2,400 jobs in January, according to preliminary and seasonally adjusted figures released Friday by the U.S. Bureau of Labor Statistics.…
Shearman & Sterling didn’t keep up with its BigLaw counterparts after the 2008 financial downturn. Shearman’s head count and gross revenues lagged behind that of growing competitor law firms.
Orrick Herrington & Sutcliffe is gaining about 100 lawyers through a merger with Buckley, a deal that will create a “financial services and fintech law powerhouse,” the law firms said Thursday.
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