Practice Management

Boosted by spike in negotiated rates, law firms return to profitability, report says

Law firms returned to profitability in 2023 as “worked rates” accelerated throughout the year, according to the Law Firm Financial Index report for the fourth quarter of 2023 by the Thomson Reuters Institute.

Feb 13, 2024 3:16 PM CST

Schnader Harrison used retirement contributions to fund operations, pay equity partners, suit alleges

The defunct law firm Schnader Harrison Segal & Lewis is accused in a lawsuit of commingling contributions to the firm’s 401(k) plan with the firm’s general assets for months at a time and using the money to make distributions to equity partners.

Feb 12, 2024 12:53 PM CST

Ex-Greenberg Traurig partner’s defamation suit against blogger is ‘replete with unnecessary commentary,’ judge says

A social media influencer has won dismissal of a defamation lawsuit filed by a former Greenberg Traurig partner over the posting of marital videos said to depict the lawyer as an abusive spouse and father.

Feb 12, 2024 10:48 AM CST

A few partners leave Cravath despite changes that generate more money for superstars

Updated: Cravath, Swaine & Moore lost three partners to competitor law firms in January, illustrating that “Cravath is now in the ranks of other New York firms that routinely see partnership shuffles,” according to an article from Law.com.

Feb 8, 2024 10:53 AM CST

This is the No. 1 reason associates stay at their law firms, new study says

Compensation is the top reason associates stay at their law firms, according to a new study by the NALP Foundation.

Feb 8, 2024 9:03 AM CST

Qualified immunity shield may depend on size and publication rate of federal appeals court, new report says

Qualified immunity “protects officials too much and our rights too little,” according to a new report by the Institute for Justice based on an analysis of more than 5,500 federal appeals decisions over an 11-year period.

Feb 7, 2024 8:47 AM CST

Florida can’t enforce law blocking real estate purchases by Chinese citizens against 2 plaintiffs, court rules

A federal appeals court has ruled that a Florida law barring real estate purchases by Chinese citizens can’t be enforced against two plaintiffs while their court challenge continues.

Feb 6, 2024 1:05 PM CST

Reports of sexual harassment abound during Legalweek tech conference

Reports on social media about sexual harassment and assault during the New York Legalweek technology conference last week have led the event sponsor to issue a statement condemning the misbehavior.

Feb 6, 2024 9:15 AM CST

Proskauer settles with ex-COO accused of stealing sensitive information before new job

Proskauer Rose has reached a confidential settlement with a former chief operating officer accused of downloading sensitive information before a planned move to a competitor law firm.

Feb 5, 2024 11:47 AM CST

Dechert will pay millions of dollars to settle ‘hack-for-hire’ allegations stemming from ex-partner’s work

Dechert has agreed to pay $3.8 million plus costs to settle claims in the United Kingdom that a former London partner conspired to hack and release the emails of a client’s opponent.

Feb 5, 2024 10:54 AM CST

Legal sector loses 4,400 jobs in January after reaching employment high-water mark in December

The legal services sector lost 4,400 jobs in January after reaching all-time highs in November and December, according to seasonally adjusted and preliminary figures released Friday by the U.S. Bureau of Labor Statistics.

Feb 5, 2024 9:39 AM CST

Is calling litigation ‘without merit’ actually without merit?

Scan corporate financial filings, and it doesn’t take long to notice that companies often dismiss legal actions brought against them as being “without merit” or “meritless.” But a federal court ruling suggests that reliance on such phrases can backfire when it comes to litigation disclosures.

Feb 2, 2024 10:06 AM CST

BigLaw associates ‘have never had it better;’ they are working fewer hours, survey says, and making more money

Lawyer head count is growing, while productivity is declining, according to a year-end survey of more than 130 larger law firms released this week by Wells Fargo’s Legal Specialty Group.

Feb 1, 2024 12:56 PM CST

How law firms can maintain office culture in the age of remote working

With a little help from Zoom, noise-canceling headphones and ergonomic chairs, we’ve mastered working remotely. Still, with fewer people gathering around the watercooler, how are firms maintaining office culture?

Feb 1, 2024 2:20 AM CST

10 Questions: In crafting a new career, this Texas contracts attorney created a community

The brainchild of Laura Frederick, a former in-house lawyer for Tesla, ContractsCon debuted in 2022. Her path from law practice to entrepreneurship began during the pandemic, and she’s since built a global community of contract law professionals via LinkedIn and created How to Contract, a successful online legal education platform.

Feb 1, 2024 1:10 AM CST