Law Firms

Skadden, Wachtell Top AmLaw 100

After earlier news reports of record-breaking revenue and massive profits per partner, two New York-based major-name law firms have now been crowned by American Lawyer as the nation’s most lucrative in 2007. One of three U.S. law firms that reportedly broke the $2 billion barrier for the first time last…

May 1, 2008 6:07 PM CDT

Internet Scammers Steal Major Law Firm Partners’ Names

For those who may have thought the lengthy disclaimers on most law firm e-mails and websites covered virtually every contingency, there’s at least one more frontier that may offer an opportunity for further verbiage. A major London-based law firm says Internet scammers have been plying their trade under the names…

May 1, 2008 5:37 PM CDT

2 Midwest Firms Form 320-Lawyer Midsize Law Partnership

Effective today, two Midwest law firms have merged into a 320-lawyer partnership. It will be known by the name of the larger firm, which is based in Cincinnati—220-lawyer Taft, Stettinius & Hollister, reports the National Law Journal, in an article reprinted by New York Lawyer (reg. req.). Robert Hicks, managing…

May 1, 2008 5:24 PM CDT

Law Firms Will Have to Work Harder for Hefty Profits, Competitor Predicts

Despite rich profits recently reported by some of the nation’s biggest and best-known law firms, the legal work landscape is changing for the vast majority of corporate practitioners. Faced with budget caps and ever-increasing scrutiny of what they spend, general counsels of client companies are flexing their considerable muscle to…

May 1, 2008 4:01 PM CDT

Tropical Island Near Africa May Soon Allow Foreign Practice

For American lawyers and others who may wish to consider practicing in the Republic of Mauritius, a lengthy editorial in a local newspaper provides a detailed description of the lay of the land. While it isn’t yet legal for outsiders to do so, the writer of the L’Express editorial today…

May 1, 2008 3:29 PM CDT

Stoneridge Ruling Protects Clifford Chance in Shareholder Action

A federal judge in Philadelphia has ruled that Clifford Chance cannot be sued in a shareholders suit for advice the law firm gave to a health care finance company. The suit had claimed Clifford Chance helped executives at DVI Inc. hide financial problems. But U.S. District Judge Legrome Davis said…

May 1, 2008 3:16 PM CDT

Linklaters Will Pay New U.K. Associates $131K

United Kingdom law firm Linklaters has announced it will increase pay to $131,500 for new lawyers, an increase of almost 4 percent. Pay will also increase for experienced associates, rising to $139,000 for those with one year of experience and to $179,200 for those with three years of experience, Legal…

May 1, 2008 2:39 PM CDT

Judge Awards $3M to Law Firms that Claimed They Were Cheated Out of Fees

A Florida judge has awarded almost $3 million plus interest to three law firms that claimed they were cheated out of fees by lawyers who hired them for settlement negotiations in a suit against Progressive Insurance. Judge David Crow of Palm Beach County said he found “serious ethical flaws” by…

May 1, 2008 2:18 PM CDT

Summer Shadows

One-to-one mentoring makes it easier to show summer associates the ropes

May 1, 2008 1:00 PM CDT

Best for the Business

“Top workplace” firms garner loyalty from clients and employees

May 1, 2008 1:00 PM CDT

Cravath Plans to Grow, Starting With ‘08 Summer Class

Recession? What recession? The current economic downturn apparently hasn’t been particularly painful at one of New York’s most exclusive BigLaw firms, which is planning to expand its summer associate class this year by more than 75 percent. There will be 161 summer associates at Cravath Swaine & Moore this year,…

Apr 30, 2008 6:57 PM CDT

Sex, Lies and Text Messages: Mich. Judge Makes Legal Memo Public

Seldom has a legal memorandum apparently been read with such interest by so many. Reportedly retrieved by a forensic expert from the computer of Mike Stefani, a plaintiffs lawyer in Detroit police whistle-blower cases, an 18-page legal memorandum that allegedly led immediately to a controversial $8.4 million settlement by the…

Apr 30, 2008 5:54 PM CDT

BigLaw Managing Partner Predicts the Future; Cost Control is Key

Even in challenging economic times, there is a need for expert legal services. But clients are increasingly eager to avoid unpleasant surprises, says the U.K. managing partner of a major London-based international firm. “As always, quality of service and technical expertise is absolutely paramount as are productivity and accountability,” Bryan…

Apr 30, 2008 5:03 PM CDT

Cravath Welcomes New Strategy Director, Sort Of

Cravath, Swaine & Moore has hired a director of strategic planning. He’s William Johnston, who formerly worked at Hildebrandt International for 11 years as a vice president and director, the AmLaw Daily reports. Despite the impressive resume, presiding partner Evan Chesler couldn’t remember Johnston’s new title when AmLaw contacted him…

Apr 30, 2008 3:32 PM CDT

Shearman Raises Pay for London Associates to $158K

Shearman & Sterling has announced it will raise annual pay for its first-year London associates to nearly $158,000, a 7 percent increase. Senior associates will get pay hikes on a discretionary basis, Legal Week reports. Their base salaries will move to about $335,700 a year. Shearman is the first major…

Apr 30, 2008 12:33 PM CDT