2021's Hot Merger Market | Why Legal Tech is 'Cash Poor' | Carmax Fighting Suit Over COVID Protocols: The Morning Minute
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December 16, 2020 at 06:00 AM
4 minute read
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WHAT WE'RE WATCHING
EMERGING FOR MERGING - The Southeast could be a hot merger market in 2021, as cities like Atlanta, Charlotte and Nashville with relatively strong economies during the pandemic attract outside law firm interest, Major Lindsey & Africa legal recruiters DeVane Tidwell and Robert Graff told Law.com's Meredith Hobbs. The pandemic "forces introspection" by firms, Tidwell said, because "inadequacies in any practice are magnified." One way firms try and rectify that is through acquiring laterals or even a merger. The pandemic has accelerated merger interest, the recruiters said, and the Southeast could be terrain for national firms seeking new markets.
NO FLOW - The untimely demise of ROSS Intelligence, which crumbled under the weight of costly litigation with Thomson Reuters, has highlighted cash flow problems plaguing the legal tech industry. As Law.com's Victoria Hudgins reports, the issue comes down to a lack of preparedness, with many companies failing to stow away cash for an emergency. "Most of us don't have a rainy day plan in case we get sued by a company like Thomson Reuters or [have] a third-party fund," said Liam Brown, CEO and founder of alternative legal service provider Elevate. "[But] there are mitigations we will do. For a company like Elevate and our legal tech peers, I advise that we increase the levels and types of insurance policies you have as you grow and the stakes get higher and higher."
CARMAX RETRIBUTION? - Jaclyn Hamlin of Ogletree, Deakins, Nash, Smoak & Stewart has entered an appearance for CarMax in a pending employment. The suit was filed November 2 in Maryland District Court by Tucker Moore Group on behalf of a sales associate who contends that he was terminated after raising concerns about the defendant's COVID-19 safety protocols. The case, assigned to U.S. District Judge Ellen L. Hollander, is 1:20-cv-03180, Carmona v. Carmax. Stay up on the latest litigation with the new Law.com Radar.
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EDITOR'S PICKS
Quinn Emanuel Contests Ex-Associate's Claims of Discrimination and 'Boys' Club' Culture
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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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