Lateral Hiring Is So Hard That Law Firms Are Merging Instead: The Morning Minute
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October 29, 2021 at 06:00 AM
4 minute read
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WHAT WE'RE WATCHING
GROWTH SPURT - In life, patience is a virtue. In the legal industry talent war, patience is for suckers. As Law.com's Dylan Jackson reports, consultants are portending a flurry of law firm mergers in 2022, especially among larger firms, as the tight lateral market shows no signs of abating and the elite pull further away from the rest of the pack. In fact, many firms are currently in merger talks, consultants told Jackson. Lisa Smith, principal at legal consulting firm Fairfax Associates, said many of the mergers in the works are at larger firms with between 200 and 600 attorneys, where leaders feel as if their businesses are undersized compared to the top law firms and are looking for a quick way to level up. "It's hard to grow substantially when you're growing organically. It takes longer, is more difficult, and is more expensive," Smith said.
STAYING POWER - Speaking of the talent war, while some firms are worried about quickly adding more attorneys, other should be worried about quickly losing them. And that goes for legal departments, too. As Law.com's Heather Nevitt writes in this week's Barometer newsletter, the (not-so-secret) sauce for legal employers looking to improve their retention amid sky-high attrition is prioritizing diversity, equity and inclusion, and allowing workplace flexibility. "In the months to come, legal departments and law firms also have to figure out how to implement these policies all while keeping lawyers engaged and connected with leadership and each other," Nevitt writes. "It can be a difficult task to find the right balance between flexibility and engagement, but it's essential to establish a strong company culture." To receive the Law.com Barometer directly to your inbox each week, click here.
CAPITOL OFFENSE - Jackson Lewis on Thursday removed an employment lawsuit against defense contractor ManTech International to Colorado District Court on Thursday. The suit was filed by the Law Offices of Gregory E. Givens on behalf of Ricki Laahs, a former systems administrator who contends that she was unlawfully terminated based on her attendance at the Jan. 6 Capitol protest in support of Donald Trump. Laahs, who has not been charged with any crime, maintains that she did not enter the Capitol building, vandalize federal property, or display any offensive symbols. The case is 1:21-cv-02897, Laahs v. Mantech International Corporation. Stay up on the latest deals and litigation with the new Law.com Radar.
EDITOR'S PICKS
- Modern Mentoring: What Mentoring Programs Look Like In a Hybrid Workplace By Carley Beckum
- 'Working Alone Gets Old Really Quickly': Why Many Junior Attorneys Want to Be in the Office By Dylan Jackson
- 'Unite the Right' Defenses Ranged From Denials of Responsibility to Vulgarity, And Drew Warnings from the Judge By Jacquline Thomsen
- DOJ Reaches $88M Civil Settlement With Families of Charleston Shooting Victims By Marianna Wharry
- Misdemeanor Charges Over a 'Grave' Attack? Judge Faults DOJ for 'Muddled' Message on Jan. 6 Riot By Andrew Goudsward
WHILE YOU WERE SLEEPING
'A CULTURAL RESPONSIBILITY' - First Nations leaders from islands in the Torres Strait off northern Australia have launched a class-action lawsuit against the Australian government in a bid to prevent the destruction of their communities by climate change, Law.com International's Christopher Niesche reports. Paul Kabai and Pabai Paba, who come from the remote islands of Boigu and Saibai in Gudamalulgal and are name plaintiffs in the suit, argue that the government has a legal responsibility—a "duty of care"—to ensure Torres Strait Islander peoples are not harmed by the climate crisis. "Becoming climate refugees means losing everything: our homes, our culture, our stories and our identity," Kabai said in a statement. "If you take away our homelands, we don't know who we are. We have a cultural responsibility to make sure that doesn't happen and to protect Country [traditional lands] and our communities, culture and spirituality from climate change."
WHAT YOU SAID
"I have always been different and looked at things differently due to dyslexia. As a professional who is not an attorney and in senior leadership at an Am Law 100 firm, I am different. I firmly believe the 'different' can make a 'difference.'"
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Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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Smith & Hassler
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