WHAT NOW? - When it laid off 150 employees last week, Cooley single-handedly introduced 78 attorneys and 72 paralegals and business staff into the national legal market at a time when Big Law firms can’t hope to sustain the level of hiring that took place in 2021, Law.com’s Justin Henry and Jessie Yount report. While the layoffs impacted junior and midlevel associates and a few counsel across numerous U.S. offices, corporate associates in emerging companies, venture capital and capital markets in Palo Alto, California, and San Francisco were especially targeted by the latest round of layoffs, according to laid-off associates in the markets who asked to speak anonymously. Now, as those attorneys and staff look toward the next chapters of their careers, hiring prospects are significantly more limited than they were 12 months ago. This is the first of a multipart series looking at the lawyers and staff who were laid off at Cooley this year and where they may go from here.
CYBER SPACE - As more law firms have launched cybersecurity practices over the past few years to meet clients’ growing demands, ALSPs have followed closely behind. Just as they did with e-discovery, ALSPs have now started commoditizing some cybersecurity services, from data mining and review to breach notification, while also moving into adjacent areas such as regulatory compliance. For now, it seems firms and ALSPs are navigating the cybersecurity market as complementary partners playing different roles. But for how long will that remain the case? Law.com’s Cassandre Coyer spoke with industry observers about whether there’s enough room in the market for both.
ON THE RADAR - American Airlines Group and JetBlue Airways were hit with an antitrust class action Wednesday in New York Eastern District Court over the airlines’ “Northeastern Alliance” agreement, which seeks to eliminate “head-to-head competition” between American and Jet Blue at four large U.S.-based airports. The suit, brought by Robbins Geller Rudman & Dowd, contends that the agreement is ‘illegal per se,’ as it increases prices and reduces output. Counsel have not yet appeared for the defendants. The case is 1:22-cv-07423, Guerin v. JetBlue Airways Corporation et al. Stay up on the latest deals and litigation with the new Law.com Radar.
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