How Big Law Should Invest Its Windfall: The Morning Minute
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April 27, 2022 at 06:00 AM
6 minute read
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WHAT WE'RE WATCHING
INVEST FOR SUCCESS - The 2022 Am Law 100 report is out now and it tells a classic "riches-to-riches" story that is sure to bring a tear to your eye. Following on the heels of a surprisingly successful pandemic year in 2020, the Am Law 100 hit another gear in 2021, boasting 12.5% growth in revenue per lawyer and a 19.4% spike in profits per equity partner. Unfortunately, there's no time to celebrate as we continue barreling into the future. It's already almost May 2022, which means firms that don't already know how they're going to invest their windfall better start figuring it out now because record high demand is not likely to last forever. And, as Law.com's Dan Packel reports, building consensus on what to do with all that money is easier said than done. "It's an age-old challenge for firms because they are cash-based and they find it hard to set money aside for the future," Fairfax Associates principal Lisa Smith said. "But investments in laterals, technology, business professionals—all of those things should be on the table any time there is an abundance of resources."
DISABLING ABLEISM - Law students with disabilities often struggle to balance trying to fit in to an incredibly competitive environment with trying to get the accommodations they need to succeed, all while fighting the constant worry that they will be viewed as less capable than their peers, Law.com's Christine Charnosky reports. "I felt afraid to ask for other accommodations that probably would have been helpful because law school is very competitive," attorney Britney R. Wilson, who has cerebral palsy, told Charnosky about her time in law school. Disability is often overlooked in the broader conversation around diversity in the legal profession, which can make self-advocacy even more difficult. But Wilson, who is now associate professor of law and director of the Civil Rights and Disability Justice clinic at New York Law School, said that seeking greater equality and accessibility for disabled law students is not just about "getting a seat at the table," as the cliché goes. As Wilson put it: "there's something wrong with the table." "People are different and it's not a horrible thing," Wilson said. "It's the treatment of people with disabilities that is the issue."
WHO GOT THE WORK?℠ - Five Below, a teen-centric discount retailer, was slapped with an employment class action Wednesday in New York Eastern District Court over alleged failure to pay timely wages in accordance with New York state law. The complaint, brought by Bursor & Fisher, contends that store employees whose work includes stocking inventory, cleaning and operating the cash register qualify as manual workers under New York's Labor Law. The suit accuses the company of violating a requirement to pay the workers on a weekly basis. Counsel have not yet appeared for the defendant. The case is 2:22-cv-02253, Krawitz et al v. Five Below, Inc. >>Read the complaint 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.
AUDIBLE GROAN - Amazon.com was slapped with a consumer class action Tuesday in New York Eastern District Court over the Amazon Prime membership package. The suit, brought by Reese LLP, contends that the package does not include free use of Audible, the podcast and audiobook service, as advertised. The complaint also contends that Amazon makes it cumbersome for customers to remove the service once they have discovered they are being charged for it. Counsel have not yet appeared for the defendant. The case is 2:22-cv-02384, McCarthy v. Amazon.com, Inc. Stay up on the latest deals and litigation with the new Law.com.
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EDITOR'S PICKS
ABA Releases Bar Passage Data: 3% Decrease for First-Time Takers By Christine Charnosky |
Citing 'Growing National Consensus,' 7th Circ. Again Holds That COVID-19 Does Not Cause 'Direct Physical Loss or Damage to' Property By Colleen Murphy |
9th Circuit Revives State Senator's 1st Amendment Retaliation Claim Against Senate Colleagues By Marianna Wharry |
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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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