Big Law Lateral Movement Has Accelerated: The Morning Minute
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October 31, 2022 at 06:00 AM
5 minute read
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WHAT WE'RE WATCHING
EVERYTHING TO EVERYONE? - Law firm leaders love to say that their organizations are not out to be "all things to all people." But for the Big Four, that's kinda the point. Take EY for example. As the company plans for a split with its audit business, its global law leader, Cornelius Grossmann, has plans of his own to make the new-look company take the legal services market by storm. As Law.com's Bruce Love reports, Grossmann said during a recent Law.com webinar that a new EY company, split from its audit business, would focus on largescale clients and projects that are multidisciplinary in nature, with legal services being a key—but not dominant—component. Such projects may have a management consulting component, a technology component, or a tax component. They may concern a business transaction like M&A, or a business process transformation element. But the one thing they will have in common will be that they will be led by the client's business need, where often legal is only a composite part. "The biggest difference in working in [the EY] environment, from a client delivery perspective, is that you need to adopt the mindset of a multidisciplinary practice, where [lawyers are] a team member, not the decision taker," Grossmann said, adding that while law is "super important" and will "not be overruled," there are "so many other aspects" to client problems.
KEEP MOVING - Just when you thought it was safe to resume treating everyone like dirt because they had no place else to go… Even though law firm demand has slipped and associate lateral movement is slowing down, the number of partner laterals actually increased again in 2022, according to new industry data. Partner moves in the Southeast, and in litigation, intellectual property and banking & finance practices have been especially pronounced, analysts at investigative intelligence firm Decipher said in a new report, adding that if "2021 was bonkers, 2022 is even crazier" on the lateral movement front. "What we're seeing, both compared to last year and compared to 2019 … current partner hiring levels are above all of those benchmarks," Mike Ellenhorn, founder and CEO of Decipher, told Law.com's Andrew Maloney. "So what does that tell us? It tells us that firms are still pursuing scale, still pursuing market share. They are continuing to focus, at least amongst the large law firm segments, on market consolidation."
WHO GOT THE WORK?℠ - Philip Z. Langer of Fox Rothschild and Richard S. Mandel of Cowan, Liebowitz & Latman have entered appearances for Tenthousand Projects and UMG Recordings Inc., respectively, in a pending trademark infringement lawsuit. The complaint, filed July 20 in New York Southern District Court by LanCarte Law on behalf of rap and hip-hop artist Warren Hamilton Jr., seeks to restrict rapper and hip-hop artist Daniel Hernandez a/k/a "6IX9INE" from using the mark on the basis of fraud. According to the suit, Hernandez's attorney sent an email informing the USPTO's examiner that Hamilton's "SIX9″ mark had been canceled, when Hamilton continues to use his registered mark and opposed the use of the defendants "6IX9INE" mark, arguing that there is a likelihood of confusion. The case, assigned to U.S. District Judge Analisa Torres, is 1:22-cv-06172, Hamilton v. Hernandez et al. >> 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.
ON THE RADAR - Generac Holdings, a manufacturer of backup power generators, was slapped with a product liability class action Friday in Florida Middle District Court. The court action arises from property damage caused by an allegedly defective residential solar energy system designed and distributed by Generac. The complaint was filed by Vargas Gonzalez Baldwin Delombard; Carey, Danis & Lowe; and Jacob Flint Law. Counsel have not yet appeared for the defendant. The case is 8:22-cv-02470, Haak v. Generac Power Systems, Inc. Stay up on the latest deals and litigation with the new Law.com Radar.
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EDITOR'S PICKS
'Momentum at Our Backs:' 2 Roundup Trials Set to Start Next Week Against Monsanto By Amanda Bronstad |
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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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