Law Firms

Chicago Legal Legend, at 100, Roasted in Mock Trial

Updated: Still going strong at age 100, a renowned Chicago lawyer and politician was roasted on Valentine’s Day in a mock trial at a local law firm. “I have had my share of notorious defendants. Leon Despres stood for principle and for justice,” argued former U.S. District Court Judge George…

Feb 16, 2008 12:07 AM CST

One Former Bill Lerach Law Firm Scarcely Misses a Step

In a recent discussion of leading plaintiffs firms filing class actions related to the subprime mortgage crisis, what Wall Street Journal Law Blog described as “San Diego-based plaintiffs powerhouse Coughlin Stoia Geller Rudman & Robbins” received prominent mention. Not mentioned at all in the post was the firm’s former name…

Feb 15, 2008 11:16 PM CST

WSJ: Top First-Year Pay Has Hit Ceiling

Despite big profits for 2007 recently reportedly by a number of major U.S.-based law firms, associates shouldn’t expect pay increases anytime soon. At least for now, salaries for the nation’s highest-paid first-year associates are likely to stay at $160,000 because of the struggling economy, reports the Wall Street Journal Law…

Feb 15, 2008 8:44 PM CST

DLA Piper Becomes Third Law Firm to Report $2B-Plus Revenues

A third law firm—DLA Piper—has broken the $2 billion barrier with its report of $2.1 billion in gross revenues last year. The firm reported revenue growth of 18.7 percent for 2007, Legal Week reports. “These numbers confirm that the firm has performed increasingly well across practices and key markets,” DLA…

Feb 15, 2008 1:46 PM CST

To Report or Not to Report? That Is Law Firms’ Question

The new year brings a dilemma to managers of big law firms: whether to report financial profits for the previous year. An increasing number of law firms are sharing their numbers with journalists, but some holdouts remain, the Wall Street Journal Law Blog reports. Many law firms have decided to…

Feb 15, 2008 1:37 PM CST

$2.4M in Profits Per Partner Could Bring 3 More U.K. Law Firms into Top 10

Three more law firms based in the United Kingdom are “tantalizingly close” to making the top 10 list of the world’s most profitable firms, the American Lawyer reports. Already in the top 10 are U.K. firms Linklaters and Slaughter and May. Now three more firms are nipping at their heels:…

Feb 15, 2008 1:20 PM CST

More Major US Firms Report Major Profits

After news of record-breaking gross revenue at two U.S. legal goliaths, handsome profits for 2007 have been reported by four more BigLaw firms. Weil Gotshal & Manges soared past the $2 million mark in profits per equity partner, up 11 percent from last year to $2.11 million. Meanwhile, another New…

Feb 14, 2008 9:01 PM CST

Longtime Legal Secretary Dies at Age 98, Eight Years After Retirement

A woman who worked as an executive legal secretary for 63 years has died at the age of 98, eight years after her retirement. Elizabeth Leonard Mayo began work in 1937 for Francis M. Shea, who founded the law firm Shea & Gardner, the Washington Post reports. Mayo followed Shea…

Feb 14, 2008 7:16 PM CST

Building Naming Rights: Outside Law Firms Need Not Apply

The owner of New York’s General Motors Building hopes to entice potential buyers with a suggestion that the new purchaser could license the building’s naming rights. Most buildings are named after companies that owned or developed them or as part of a deal to secure an anchor tenant, the New…

Feb 14, 2008 5:00 PM CST

Big Jump in Profits at Baker Botts

Baker Botts is reporting big increases in partner profits for 2007, joining other big firms posting big gains in revenues and profits. The Houston-based law firm reported profits per equity partner of $1.3 million, an 18.6 percent increase over 2006, Legal Week reports. The results were issued as the firm…

Feb 14, 2008 12:52 PM CST

Duane Morris Wins $1.6M Malpractice Suit

Duane Morris has won a $1.6 million malpractice suit that accused it of failing to provide security in a settlement agreement negotiated for a former client. Philadelphia jurors ruled yesterday that the law firm did not breach any duty to ex-client Joseph Adlerstein, the Legal Intelligencer reports. Adlerstein collected only…

Feb 14, 2008 11:37 AM CST

Bell Boyd Raids 2 San Diego Firms, Opens New Office

A well-known Chicago-based firm is establishing a West Coast presence, raiding two San Diego law offices to open a six-attorney outpost there. (It will also be staffed from the outset with seven Ph.D-credentialed specialists, and two of the lawyers apparently have Ph.Ds, too.) The partners at the helm of Bell,…

Feb 13, 2008 11:15 PM CST

Skadden Joins Latham at Record $2B Revenue Level

Following swiftly on the heels of the news that total 2007 revenue for Latham & Watkins exceeded $2 billion, another major U.S. law firm has joined in the record-breaking announcement. Skadden, Arps, Slate, Meagher & Flom also had gross revenue of more than $2 billion in 2007, reports the Lawyer.…

Feb 13, 2008 6:43 PM CST

Lawyers Differ on Blame in $1.6M Duane Morris Malpractice Case

Lawyers for Duane Morris and a former client differed in closing arguments yesterday on who should be blamed for his inability to collect money promised in a settlement agreement. A lawyer for ex-client Joseph Adlerstein, who received only $200,000 under the $1.8 million settlement agreement, argued the law firm should…

Feb 13, 2008 1:40 PM CST

Lerach Ponders Planned Trip to Club Fed

The day after a federal judge gave William Lerach the maximum two-year prison sentence possible under a plea deal, a front-page Wall Street Journal profile reports that the once-mighty plaintiffs securities lawyer still feels his overall legacy as an attorney is one to be proud of. Despite his conviction and…

Feb 13, 2008 12:43 AM CST