Weekly Briefs: Top firms named for female equity partners; Trump inflated net worth by $2.2B, motion says
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These law firms ranked best for female equity partners
Three large law firms are reporting that more than 33% of their equity partners are women, according to Law360 Pulse’s 2023 Women in Law Report. They are Littler Mendelson (36.8%), Jackson Lewis (33.8%) and Ropes & Gray (33.1%). Two midsize firms surpassed those percentages. Half of the equity partners are women at Berry Appleman & Leiden, while 48.9% of the equity partners are women at Fragomen, Del Rey, Bernsen & Loewy. (Law360)
Trump’s false documents established, New York AG says
Former President Donald Trump at times inflated his net worth by up to $2.2 billion, according to a motion for partial summary judgment in a civil fraud lawsuit by New York Attorney General Letitia James. The motion says no trial is required to determine Trump “grossly” inflated his assets on financial statements. James says the statements were used to obtain real estate loans and favorable insurance coverage. Trump’s lawyers say the entire case should be tossed. They cite an appellate ruling dismissing James’ case against his adult daughter Ivanka Trump in June because the allegations were time-barred. (The New York Times, Reuters, Law.com)
3M to pay $6B to resolve combat earplug suits
3M, a multinational conglomerate corporation, announced Tuesday that it has agreed to pay $5 billion in cash and $1 billion in common stock to settle 240,000 lawsuits filed over combat earplugs alleged to be defective. The money will be paid through 2029. The company does not admit liability. (Law.com, 3M press release)
3.6M more people would receive OT pay under proposed rule
The U.S. Department of Labor has proposed rule changes that would extend overtime-pay protections to 3.6 million more workers. The proposal would sweep in more people by making salaried workers who make less than $55,000 per year eligible for overtime pay, up from the current level of $35,568. The proposal also better identifies which salaried employees are executive, administrative or professional workers who are “exempt,” meaning that they aren’t entitled to overtime if they are salaried and make more than the threshold level. The changes would also automatically update the salary threshold every three years to reflect current wage data. (Bloomberg Law, the Washington Post, U.S. Department of Labor news release, DOL proposed rulemaking, DOL FAQ page)
