Midlevel Partner Talent Pool Has Likely 'Dried Up': The Morning Minute
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November 03, 2022 at 06:00 AM
5 minute read
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WHAT WE'RE WATCHING
EMPTY POOL - The market for lateral partners looks noticeably different this year, Law.com's Andrew Maloney reports. The pool of midlevel partner candidates appears to have "dried up," according to analysts at investigative intelligence firm Decipher, with law firms increasingly bringing on cheaper, less-experienced junior partners who have smaller books of business. Meanwhile, even though the percentage of "red flags," or inconsistencies in lateral partners' backgrounds, has ticked down, Decipher still noted them on more than a quarter of all partner candidates in 2022. "When the market is highly, highly competitive for quality lawyers in all of these areas, it is going to fray at the edges, and you will continue to see a prevalence of red flag issues with the market as a whole," Mike Ellenhorn, founder and CEO of Decipher, told Maloney, adding later: "That's the nature and character of the market, and it means you have to be careful."
BRING IT - A new study by litigation funder Burford Capital found that while all legal departments defend themselves against lawsuits filed by other parties, many are leaving substantial money on the table by failing to bring their own cases. As Law.com's Trudy Knockless reports, the study, which was based on responses from 300 GCs, heads of litigation and other senior in-house lawyers in the U.S. and U.K., found that just half of respondents have pursued such efforts, the study found. "Despite the recognition by about one in two GCs that the legal department can add value by pursuing recoveries, there remains a notable population who have yet to take this opportunity or who seem unsure of how to leverage it," the study said. Perhaps unsurprisingly, Burford's study also said litigation funding can help. "I speak with fellow GCs often about the role that legal finance can play in growing legal departments' business impact by becoming more of a profit center," said Mark Klein, general counsel and chief administrative officer of Burford Capital.
WHO GOT THE WORK?℠ - G. Hopkins Guy III, Ali Dhanani and Thomas B. Carter Jr. from Baker Botts have entered appearances for DISH Network, a leading satellite television provider, and DISH Technologies LLC in a pending patent lawsuit. The action was filed Aug. 29 in Texas Eastern District Court by Williams Simons & Landis on behalf of Digital Broadcasting Solutions LLC, holder of patents regarding innovations in time shifting video programs that relate to a system and method for allowing a digital video recorder to skip commercials. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:22-cv-00335, Digital Broadcasting Solutions LLC v. DISH Network LLC 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 - Counsel at Ogletree, Deakins, Nash, Smoak & Stewart on Wednesday removed a civil rights lawsuit against Berea City School District and other defendants to Ohio Northern District Court. The complaint was filed by Weyls Peters + Chuparkoff and other counsel on behalf of two plaintiffs who assert that they were sexually groomed and assaulted as minors while participating in high school football camp. The defendants are accused of attempting to conceal the alleged events, and failing to implement a system that protected students from abuse. The case is 1:22-cv-01981, John Doe 1 et al v. Berea City School District et al. Stay up on the latest deals and litigation with the new Law.com Radar.
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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.
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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.
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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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