Law Firm Lease Rates Soar in NY, Mansfield Rule In-House, Barr's Private Ceremony: The Morning Minute
Here's the news you need to start your day.
October 25, 2019 at 06:00 AM
4 minute read
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WHAT WE'RE WATCHING
TOO DAMN HIGH – Leases covering some 8.5 million-square-feet of law firm office space in Manhattan are set to expire between 2021 and 2024, setting up a round of musical chairs in the city—and placing additional pressures on firms as rents continue to increase. Patrick Smith reports that law firm rent rates in Midtown rose 15% in the first half of 2019, according to CBRE. It's worth noting that 80% of the top 25 firms by square footage occupancy are located in that part of the city.
ON HOLD? The Senate Judiciary Committee has delayed its votes on a pair of Circuit Court judicial nominees—Steven Menashi and Halil "Sul" Ozerden—who have faced bipartisan criticism. Both men were listed for a committee executive business meeting on Thursday, but a committee spokeswoman said the votes were delayed due to tight timing with the late Rep. Elijah Cummings's memorial service. It's unclear if the nominees would have advanced if the vote were held as planned. Republicans have opposed Ozerden over concerns about his rulings on religious liberty, while other GOP senators have raised eyebrows about Menashi not answering their questions.
MORE MANSFIELD – Some 22 corporate in-house teams have signed on to Diversity Lab's Mansfield Rule: Legal Department Edition. Dan Clark reports that the pilot program asks legal departments to consider at least 50% underrepresented candidates for internal roles and when hiring outside counsel. Among the companies to sign on are Ford Motor Co., Gap, MassMutual, PayPal and Uber Technologies. The program is an extension to the Diversity Lab's Mansfield Rule, designed for law firms to find ways to put underrepresented attorneys on matters and on a path to partnership.
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EDITOR'S PICKS
Barr's Justice Dept. Honors Kavanaugh Team at Private Ceremony
J&J's Baby Powder Recall 'Highly Relevant' to Lawsuits, Attorneys Say
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WHILE YOU WERE SLEEPING
BREXIT BIZ – The U.K.'s top law firms are "reaping the rewards" of investing in their international offices as they respond to the challenges posed by Brexit, according to new research from PwC. Varsha Patel reports that PwC's 2019 survey of law firms shows those that international offices are excelling as revenues and profit growth in their locations overseas start to exceed that of their U.K. headquarters. The top 10 U.K-based law firms with international revenues exceeding 20% of total revenue experienced 85% of their profit growth from international offices.
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WHAT YOU SAID
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Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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