The former general counsel of the defunct law firm LeClairRyan was sentenced to 44 months in prison in Richmond, Virginia, on Monday for lying to the U.S. Trustee Program while trying to thwart an investigation into his embezzlement of more than $4 million.
Cravath, Swaine & Moore announced year-end bonuses of up to $115,000 for associates Monday, topping last year’s year-end bonuses of up to $100,000. Cravath has “reclaimed its throne as BigLaw’s bonus leader” by being the first to announce.
Law firm business leaders are bullish about the future of the legal industry, but they are increasingly concerned about the impact of talent wars on profitability, according to a survey released Tuesday.
Several law firms have announced their largest new partner classes on record amid a push to reward lawyers and create an incentive for associates to stay.
The nation’s 50 highest-grossing law firms continue to outpace other higher-earning firms in growth in income, net revenue and demand, according to financial data.
Lawyers and staff members at top law firms overwhelmingly favored President Joe Biden and Democratic Party organizations in campaign contributions than former President Donald Trump, according to a law professor’s analysis.
Kirkland & Ellis has apparently received a $200 million contingency fee in its representation of a company claiming that its purchase of chemical businesses was marred by the seller’s fraud and breach of contract.
Direct expenses at larger law firms increased 7.2% in the last year, mostly driven by a jump in associate compensation, according to the latest Peer Monitor Index report by Thomson Reuters.
Utah Supreme Court Justice Constandinos “Deno” Himonas, one of the major driving forces behind his state’s groundbreaking reforms opening up the legal marketplace to nontraditional providers, recently announced that he will be retiring from the bench to join a major law firm opening an office in the state’s capital.
Orrick Herrington & Sutcliffe has extended a fellowship program in which it embeds its associates at nonprofit organizations for a year while paying their law firm salaries.
Two Ohio law firms will offer associate positions to two students before they even enroll in law school as part of a diversity program that pays the students’ tuition and living expenses.
