Cravath Tops Davis Polk Salary Scale for 4th Years and Above: The Morning Minute
The news and analysis you need to start your day.
March 01, 2022 at 06:00 AM
6 minute read
Want to get this daily news briefing by email? Here's the sign-up.
|
WHAT WE'RE WATCHING
SOARING SENIOR SALARIES - In January, Milbank kicked off 2022′s associate pay raise race (or maybe just continued the perpetual one-upsmanship from previous years). A few firms matched that move but many more held back, seemingly waiting for Davis, Polk & Wardwell or Cravath, Swaine & Moore to make their announcement. Since then, it's been quiet. A little too quiet. Davis Polk finally broke the silence last Tuesday, going further than Milbank by announcing a new scale for fourth-year associates and above, with the most senior associates getting $18,500 more. But after many firms matched that last week, Cravath made the very Cravath-y move yesterday of matching Davis Polk's starting salary of $215,000 but giving even bigger raises to midlevels and senior associates, up to $415,000 for the class of 2014. As Law.com's Patrick Smith reports, yesterday's announcement raises the question of whether the firms that pay market salaries will now move their pay scales up once again en masse, a development that would surely be unanimously cheered by every corner of the industry.
BETTER CONNECTIONS - Remote work has undoubtedly made life harder for some litigators and their clients. But in certain circumstances, the increased level of accessibility is helping lawyers better assist clients who may not be able to physically show up to meetings and court dates. Attorneys told Law.com's Isha Marathe that when representing victims of domestic violence, single parents, or those with disabilities, injuries, or concerns about safety, they have found e-signature tools, video conferencing, and a switch from email to texting game-changers in helping them retain and serve these clients. New Jersey personal injury firm Grungo Coraluro is even exploring leveraging its metaverse office and augmented reality technology to connect with clients, allowing them the anonymity they require while better accommodating their needs. "Frankly, every type of client benefits from legal technology that offers easier access to their lawyer," said firm co-founder Richard Grungo. "But specifically in my realm, I deal with people who are immobilized, who have family commitments that don't allow them to carve out two hours to get to an office, who want to maintain their anonymity."
WHO GOT THE WORK?℠ - Lawyers at Kelley Drye & Warren on Friday stepped in to defend Take-Two Interactive, removing a class action against the video game company to Illinois Northern District Court. The suit, brought by McGuire Law, accuses the defendant of deceptive marketing practices in regard to the sale of virtual currency for use in its NBA 2K game. The suit brings claims on behalf of all players who purchased virtual currency as well as a subclass of minors. The case is 1:22-cv-01019, L.A., by and through her Guardian Maurice Andrews, individually and on behalf of all similarly situated individuals v. Take-Two Interactive Software, Inc. >> Read the filing on Law.com Radar and check out the most recent edition of Law.com's Who Got the Work?℠ column to find out which law firms and lawyers are being brought in to handle key cases and close major deals for their clients.
FLAG ON THE PLAY - McKool Smith and other law firms filed a trademark infringement lawsuit Monday in California Central District Court arising from Fox Sports and other defendants' recent announcement that their "United States Football League" will debut in April. The complaint was brought on behalf of the Real USFL, which accuses the defendants of creating an "unabashed counterfeit" of the football league of the same name which existed for a limited time in the 1980s, including misappropriation of the original logo and team names. Counsel have not yet appeared for the defendants. The case is 2:22-cv-01350, The Real USFL, LLC v. Fox Sports Inc et al. Stay up on the latest deals and litigation with the new Law.com Radar.
|
EDITOR'S PICKS
New Group to Promote Attorneys of Color in Mass Torts By Amanda Bronstad Appeals Court: No Sanctions for Attorney Who Sued Client Over Negative Online Review By Allison Dunn Pharma Entities Say Their Patents Were Vital In Moderna Vaccine By Ellen Bardash How I Made Partner: 'I Had Confidence in My Potential to Generate Business,' Says Avni Patel, Walden Macht & Haran By Tasha Norman Law.com Readers' Poll: Should Certain Court Proceedings Automatically Be Remote? By ALM Staff|
WHILE YOU WERE SLEEPING
CUTTING TIES - Citing restrictions placed by sanctions, a growing number of U.S. law firms are parting ways with Russian clients in the wake of Russia's invasion of Ukraine, Law.com International's Krishnan Nair reports. Baker McKenzie is set to part ways with major state-owned Russian clients amid heightened sanctions and a growing call for the West to take action, as Ukraine continues to defend against the Russian invasion. The firm "is reviewing and adjusting our Russia-related operations and client work to align with all applicable sanctions and comply with these fast-evolving laws," and "this will mean in some cases exiting relationships completely," it said in a statement to Law.com International. The firm would not comment on specific institutions, but among the firm's major state-owned clients facing potential sanctions are VTB Group—one of Russia's biggest state banks—and Gazprom—one of Europe's largest producers of petroleum. Venable, meanwhile, confirmed Monday that it was ending its relationship with banking client Sberbank CIB USA, Inc. According to public documents, Venable lobbied for the bank in the United States since 2017. And Sidley Austin similarly confirmed Monday that it was ending a lobbying relationship with VTB Group "in compliance with U.S. sanctions."
|
WHAT YOU SAID
"If we say something like, 'We're dropping clients that are Russian,' that could literally put the 30 to 40 people in our Moscow office who are Russian nationals in harm's way."
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllDemocratic State AGs Revel in Role as Last Line of Defense Against Trump Agenda
7 minute readBig Law Communications, Media Attorneys Brace for Changes Under Trump
4 minute readWill Trump Be a Boost to Quinn Emanuel's Fortunes in China?
Law Firms Mentioned
Trending Stories
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.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250